244 



APPENDIX 



Cost of a normal many-aged forest. 



G c = - 



o.op 



INDEX ART. 

 LETTER 



. . As 109 



VALUES 



Sale value of a single even-aged stand in year n, in- 

 cluding value of soil. 



F,= Y + S a . B 112 



Expectation or capital value of above for year a, pre- 

 vious to year n. 



a F s = - ^" 'J^ ~ E Bl II2 



7+ S s + E + T p (i.op n - p ) + r fl (i.of-) 



a F s = *\ - P I % B 2 II2 



i. op"- 1 



Expectation or capital value of forest property in 

 the year n, previous to removal of crop. 



V C 



Tf v _t_ (r* i i?\ r* 



r v =x-\ (C-h-Cr) C 114 



I .op n i 



+r,(i.of )-c-d(i.o^- 4 ) 



-C e (i.op n - e }-C f (i.op n -') 



, ^i 114 



i.op n i 



Expectation or capital value of forest property in 

 the year a, previous to year n. 



(Y-0^_ E D 



i.op n - i 



T p T q + T r (i.op n ) c 



i.op p i.op q i.op r 



* i.op a 



_^_ "7^~~ i.of ,_ 



I.O^" - I 



y + ^ + - D 2 II6 



T..0p n ~ a 



