246 APPENDIX 



INDEX ART. 

 LETTER 

 Expectation or capital value of growing stock or 



timber separate from soil, in year a, previous to 

 year m, for a many-aged stand. 



an ^ ~T" PV ~t~ Ei f ,-,> , 



v = "To/r 17 " ~ ' * ^ ....... * II9 



PROFITS 



Profits in destructive lumbering, on timber and land, 

 for year n or at time of sale of timber. 



P = Y + S 8 + E- (C + S c + E)i.o/> . . . H 122 

 P = Y + S, + E + T P (i.o#-*) + T s (i.op-<) 



+ r r (i.o/>"-o - (c + s c + E) i. /> 



- C d (i .o/O - C e (i .o/> w -) - Q (i .o/>--0 . H! 122 

 Profits in destructive lumbering, on timber alone, for 

 year n. 



P=Y + Sc + E-(C + S e + E)i.op\ . . . K 123 

 Profits in destructive lumbering, on timber alone, for 

 year a, previous to year n. 



P = Y + Sc + E - (C + S c + ) i .of. . . . K! 124 



i. op" 



p 



i.op n ~ c i.op p - i.op g ~ a i.op r ~ a 



Profits in continuous forest production, for year n. 



P = Y + S v + E (C + S c + E} i.op n . . . . L 125 

 Profits in continuous forest production, for year a, 

 previous to year n. 



Y 4- s -f E 

 P = ^ (C + S c + E) T..op a ... LI 126 



p = p B - a F c L 2 126 



P = (S c - S v ) i.op a L 4 126 



Profits in continuous forest production for year o, 

 previous to origin of crop. 



P = S v - S c L 3 127 



