xvi CONTENTS 



ARTICLE PAGE 



239. Timber as an "Agricultural" Value ............................... 230 



240. Stump Land versus Cleared Land ............. ................... 231 



241. Cost of Clearing Stump Lands ................................... 232 



242. Sale Value of Stump Lands ................... ................... 232 



243. Summary of Elements of Value for Forest Land .................... 233 



244. Value of Young Timber as a Part of the Value of Forest Soil ........ 234 



245. Sale Value of Forest Property .................................... 235 



246. Discrimination against Forest Values .............................. 236 



247. Discrimination in Favor of Forest Values .......................... 236 



248. Results, when Values of Bare Land are Compared .................. 237 



249. Results, when Full Value of Property is used in Comparison ......... 237 



250. National Forest Policy in Land Classification ...................... 238 



251. Reciprocal Values in Forestry and Agriculture ..................... 239 



Appendix ...................................................... 240 



Summary of Formulas of Compound Interest ....................... 240 



Definitions of Symbols .......................................... 241 



Summary of Formulae in Forest Valuation ......................... 243 



Costs ..................................................... 243 



Values .................................................... 244 



Profits .................................................... 24 6 



Interest Earned .................................. . ......... 246 



Damages .................................................. 247 



Depreciation ............................................... 247 



Geometric Series ........................................... 248 



Stumpage Values ........................................... 24 g 



Compound Interest Tables: 



Explanation ........................ 2 . 



Tables of Logarithms of Numbers 



265 



