TIMBER VALUES 107 



estimate is safe in such valuable timber. As a consequence the 

 costs per acre range from 5 to 10 cents, with the latter as a 

 safer figure if an accurate estimate is to be made. Nor can the 

 relatively level topography, uniformity of the stands in compo- 

 sition, size and density, and the accessibility of the timber offset 

 this single cost factor. This is in brief a problem similar in every 

 way to the estimating of Lake States white pine with the single 

 exception that silver pine is not so near the market and hence 

 not quite so valuable. 



The only Census figures available, those for 1900, give low 

 average stumpage values because at the time they were gathered 

 the white pine of the " Central Empire " had not been put on the 

 market in any large amount. The following values obtained at 

 that time: 



Silver pine $1 . 50 per M 



Red cedar 0.77 per M 



Hemlock Not considered merchantable 



Larch Not considered merchantable 



At present, however, stumpage values are much higher. This 

 is the natural result of market development. Intrinsically silver 

 pine is as valuable as eastern white pine and can be used for 

 exactly the same purposes. Naturally, however, trade preju- 

 dices had to be overcome before a wide market could be found. 

 Furthermore, a relatively low value can only be secured as long 

 as wood is marketed as rough ungraded lumber. High prices 

 are only paid for carefully graded lumber which is especially 

 selected for the particular purpose to which it is to be devoted. 

 The careful grading of silver pine only dates from 1903 while the 

 sash and door mills which now work up the rough Imnber into 

 semi-finished form, are no older. Since, however, silver pine is 

 a wood which can be used for pattern work, cabinet making, and 

 fine finishing it is fast commanding the same sale value as eastern 

 white pine. This means that the average value of the mill run 

 at Minnesota transfer was $35 to S40 per M board feet in 19 10 

 based on the following percentages of grades: 



Fine finishing lumber 10 per cent at $100 = $10.00 



Sash and door stock 20 per cent at 40 = 8 . 00 



Lower grades 70 per cent at 25= 1750 



