16 



N. H. A(.H. Experiment Station 



[Bulletin 318 



Table 6. — Typical range of prices 



paid for stumpage, by species, 



1930-38 



Species 



Stumpage price 

 per M bd. ft. 



Dollars 



Pine 3.00—5.50 



Spruce 3.7.5—5.75 



Hemlock 3.00^.25 



Hardwood 1.50—5.00 



Though an attempt was made 

 to secure a reliable series of 

 stumpage prices in the area, 

 available data, both published 

 and uni)ublished, did not lend 

 themselves to price analysis. 

 However, as an indication of re- 

 cent jM-ices, Table 6 is presented. 

 The range in prices shown in 

 Table 6 can be accounted for 

 largely by differences in quality, 

 accessibility, bargaining power, 

 and price movements over the 

 period. 

 While an attempt has been made to make these data apply to wood- 

 lands of similar accessibility and quality, this is difficult because at any 

 time there is some woodland which, because of its location or because of 

 the character of its growing stock, has a stumpage value of zero. This 

 comes about because the stumpage price is ordinarily a residual price 

 calculated from the price of the logs delivered at the mill, less cost of fit- 

 ting and transportation. Obviously, after a certain distance has to be 

 traveled for a certain quality log, a margin is reached at whicli nothing 

 will be available for stumpage. 



The effects of bargaining power on price are difficult to evaluate. Hi - 

 cause many sellers are dealing with a few buyers, there is a tendency fur 

 a buyers' market to exist. To the extent that this condition is present, 

 price will tend to be lower than the competitive level. 



All available information indicates that raosi woodland owners have a 

 reservation price below which they will not sell. For rhe majority of 

 ownei-s these prices have been $2.50 per thousand board feet for white 

 pine, $3.00 for spruce, $2.00 for hemlock, and $1.50 for hardwood. 



*Prices refer to white iiiiic dt-livcrod at Rochester, New Hampshire, aiui p.ipcr liirch dilivcred 

 .it FryehurK, Maine. In order to secure a continuous scries over the period it was neces- 

 sary to go outside the area for price records. Comparisons for particular years indicate 

 that these prices are comparable with those paid within the area. 



