TIMBER VALUATION 



37 



The strip method of estimating costs not less than 15 cents an 

 acre where the amount and quality of the timber and its value 

 are reported upon and a topographic map is also constructed. 

 This should give a 30 per cent estimate with an average run of 

 three miles of strip per working day. 



Since white pine was one of the first species to become commer- 

 cially important unusually good figures are available as to the 

 course of stumpage prices. Two such tables are given, the first 

 taken from Compton's " Organization of the Lumber Industry " 

 and the second from the report of the National Conservation 

 Commission. 



Sales of northern pine by the State of Minneaots 

 (includes some red pine and spruce) 



1880. 

 1885. 

 1890. 



1895- 

 19CX). 



PerM 



$1-47 

 1-73 

 2.25 

 2.18 

 517 



190S 

 1910 

 1911 

 1912 

 1913 



PerM 



$7 18 

 8.00 

 8.00 

 8.00 

 8.00 



White pine stumpage prices in 

 Michigan 



1866 

 1870 



1875 

 1880 

 1885 



PerM 



$1 .00 



2.25 

 2.50 

 3 00 

 S 00 



1890 



189s 

 1900 



191S 



PerM 



$5 SO 



5-25 



10.00 



IS 00 



Both of these show a fairly regular advance ia price. In fact 

 white pine is one of the few imp)ortant American species in which 

 the stumpage price has equalled the cost of growing the timber. 

 White pine can be grown on rotations of 50 to 75 years for a cost 

 of Sio a M and in both cases cited above that figure has been 

 reached. It must, however, be remembered that the stumpage 

 prices given above are for old growth timber which has taken at 

 least 150 years to reach its present size. Nevertheless, the state- 

 ment is vaKd that white pine may be profitably grown. A price 

 of Sic per M has been realized for second growth pine in several 

 places in New England, New York, and the Lake States. To 

 show the regional variation in stimipage prices the Forest Service 

 figures collected in 1912 may be dted: 



PerM 



Northeastern states 8.44 



Lake states 10. 39 



Southeastern states 3.91 



