12 NORTHERN SPRUCE TYPE 



As stated above the stumpage price of any tract should be the 

 difference between the average sale value of its timber and all 

 costs of logging, manufacture and selling. On small jobs such 



Fig. 2. Distribution of the Northern Spruce Tpye 



calculations are simple but where large initial investments are 

 necessary for railroads, roads, driving improvements, mill 

 machinery, etc., the problem is exceedingly complex because the 



