16 



Plantations Nos. 1 and %. These plantations occupy adjacent 

 grounds, belong to the same person, and have been given exactly the 

 same care. They are treated together, therefore, in order to compare 

 the returns. They are situated on upland prairie. The altitude is 

 approximately 1,200 feet. The soil is a sandy loam with a small 

 admixture of gravel. The subsoil is of clay. The land occupied by 

 No. 1 was in virgin prairie sod till the spring of 1899, when it was 

 broken out and allowed to stand idle till the following year. No. 2 is 

 on land that was old and worn out when the trees were planted. 



Plantation No. 1 was established in 1890, No. 2 in 1889, their 

 respective ages when measured being 14 and 15 years. In both cases 

 the ground was put in a thoro state of cultivation immediately before 

 the trees were planted. One-year-old stock was used, spaced 4 by 4 

 feet. The plantations were cultivated like corn the first two years, 

 since when no further care has been given them, except that a few 

 acres were pruned several years ago. 



The general health and appearance of the trees are good, and the 

 plantations on the whole are thrifty. There is some decay noticeable, 

 caused by fungus entering where the dead limbs have persisted. The 

 plantations have always been protected against fire and live stock, and 

 every opportunity has been afforded, therefore, for the building up 

 of forest conditions. The crown cover, save for an opening here and 

 there, is quite complete, and demonstrates that catalpa can be depended 

 upon to form a canopy sufficiently dense to shut out weeds and grass. 



The owner has kept a strict account of all expenses incurred in 

 establishing and maintaining these plantations, and the figures given 

 on the cost are taken from his records. The cost is assumed to be the 

 same for both plantations. 



Plantation No. 1. 



COST (ACTUAL). 



Plants, 2, 722, at $1 . 15 per M $3. 13 



Preparation of the ground, cultiva- 

 tion, and pruning 18. 46 



Total 21.59 



Interest on $21.59 for fourteen 



years, at 5 per cent, compounded. 21. 16 



Total cost at the end of four- 

 teen years 42. 75 



RETURNS. 



First-class posts, 647, at 14 cents. $90. 58 

 Second-class posts, 1,363, at 9 

 cents .. . 122.67 



Value at the end of fourteen 



years 213. 25 



Deducting the cost, $42.75, from the value, $213.25, leaves $170.50 

 as the net income at the end of fourteen years, which is equivalent to 

 an annual net income at 5 per cent compound interest of $8.69 per acre. 



[Cir. 45] 



