14 



used. The spacing was 8 by 12 feet, thus requiring 454 trees per 

 acre. A crop of corn was grown between the rows the first year, and 

 the trees have never received any further cultivation. No data could 

 be obtained on the returns from this crop, but it is safe to assume 

 that it met the expense of the cultivation, which is therefore omitted 

 in calculating the cost. The grove has never been pastured, and only 

 the dead or dying trees have been cut out from time to time. 



The trees are tall, straight, and thrifty. Owing to wide spacing, the 

 stems are branchy. Of the present stand of trees 77 per cent will 

 class as dominant and the remainder as intermediate. The ground is 

 covered with a fairly dense stand of weeds and grass. 



No data could be obtained on the cost of establishing this plantation, 

 but the estimated cost is given below. The fuel wood would have a 

 stumpage value of at least $2 per cord were it cut and sold. However, 

 the wood is being consumed at home, thus saving the haulage, which 

 would be at least 50 cents per cord. In reckoning the returns, there- 

 fore, a stumpage value of $2.50 per cord is assumed. 



Preparation of ground $2.50 



Trees, 454, at $2.50 per M 1.14 



Planting 2.00 



Cultivation (cost paid by corn crop). 



Total 5.64 



Interest on $5.64 for eighteen years, at 5 per cent, compounded 7. 93 



Total cost with 5 per cent compound interest at the end of eighteen 

 years 13.57 



48.2 cords, at $2.50 stumpage, farm value (value at end of eighteen years) ... 120. 50 



Deducting the cost, $13.57, from the value, $120.50, leaves $106.93 

 as the net value, which is equivalent to an annual net income at 5 per 

 cent compound interest of $3.80 per acre. 



This plantation affords an excellent example of what can be done by 

 growing trees on land that is too wet for field crops. By planting it 

 to trees, it furnishes a continuous supply of fuel, affords protection 

 to the home, and yields a rental value above that of farm lands in 

 the same locality during the same time. If the spacing had been 

 closer and the plantation given good care, the returns would have been 

 increased. The yield table for cottonwood shows that this plantation 

 has given an annual yield of 2.7 cords per acre. Others made an equally 

 good showing, and two furnish much higher yields. 



[Cir. 45] 



