134 



FOREST VALUATION 



The initial expense C includes brush disposal, soil prepara- 

 tion, and the cost of securing reproduction. The removal of 

 burned and worthless timber increases C abnormally. The 



expense E representing - includes fire protection. A fire 



trap, caused by debris, must either be removed as an initial 

 cost or an additional annual expense e r be incurred, propor- 

 tionally increasing E to E' for at least a few years. 

 If the value of the burned timber is appraised as 



the owner must be left in possession of a value for land, S v , un- 

 diminished by such expenses ( 136). The expense of restoring 

 this value is (C' + E'} - (C + E), in which (C' + E'} repre- 

 sent the costs of securing and protecting the new crop after the 

 fire.* For instance, should natural reproduction, by sprouts or 

 seed, be the normal method, but as a result of the fire, planting 

 becomes necessary, the cost of planting constitutes a damage. 

 If the owner would have had to plant anyway, the damage in- 

 cludes only the cost of removing the debris or protecting the 

 plantation from extra fire hazard. 



The damage where young timber is totally destroyed may be 

 summarized as: 



Timber destroyed = Y + S + E _ (^ + ) 



i.op n 



Further damage to property = S v S' v , 



Total damage = Y + S v + E _ ^, + , 



i.op n 



In other words, the value of the soil resulting from the fire can 

 be substituted for its value previous to the fire, thus covering 

 the total loss in value of the entire property. But as (C'+ E') - 



* This formula is technically incorrect, since the additional expense e' e 

 endures probably for but a limited period b. Hence the increased cost of this 

 item is (' ) (i.op*> i) instead of (' ). This alteration may be made 

 in formula O2. 



