INDEX 307 



ARTICLE PAGE 



Specific accounts, costs 26 16 



Speculative value 67 43 



Sprague, Charles E., philosophy of accounts 73 52 



Stand, growth in volume of 183 195 



improvement in quality of products 184 196 



Standard log rules 216 219 



of value 2 i 



Standing timber, deterioration of 186 196 



estimation of 216 218 



investment in 96 72 



State forester, power, in enforcing tax laws 166 164 



Strip methods of timber estimating 219 220 



Stump lands, cost of clearing 241 232 



sale value of 242 232 



land versus cleared land 240 231 



Stumpage, carrying charges on, versus profits 181 191 



appraisals, future local supply of timber as affecting 193 204 



local industries and markets 193 204 



reports 224 222 



as a capital investment 176 180 



cost of raw material 176 181 



prices 169 167 



factors determining 170 167 



sale value of 168 166 



value, appraisal of 171 169 



rate of increase in 194 204 



values, definition of 167 166 



for different species in mixed stands 180 188 



formulae for 248 



revision of, in long term contracts 196 207 



Substitutes, effect of, on wood prices 189 198 



Summary of elements of value for forest land 243 233 



formulae in forest valuation 243 



of compound interest 240 



Symbols, definition of 241 



Table I Comparison of Results of Simple and Compound Interest. . . 61 30 



Table II Comparison of Results of Taxation of Capital Values 158 148 



Table III Comparison of Sale Value with Expectation Value of 



Even-aged Stand 164 156 



Table IV Periods within which Property Tax on Timber Becomes 



Equivalent to Tax on Soil Value 166 159 



Table V Rate of Annual Increase in Value of Stumpage 194 205 



Table VI Compound Interest Tables 249 



Table VII Logarithms of Numbers 265 



Tax, general property 154 J 44 



on income 15 T 4i 



reform for forest property 166 160 



