TIMBER VALUATION 4I 



Mill run prices would be the weighted average of these figures less 

 the freight haul and handling from the mill to the market. Sel- 

 dom will they exceed $40 per M, 



One factor that increases the possible returns from hemlock 

 lumber is the use of the bark for tanning purposes. This brought 

 from $7 to $11 per ton at the tannery. Yields vary from 2.8 to 

 0.4 tons per M feet of lumber with an average of | ton. Peeling, 

 drying and hauling cost from $4 to $6 per ton. 



An additional way in which higher returns per acre may be 

 obtained from hemlock stands is the sale of the tops for pulp. 

 Limbs as small as four inches inside the bark at the top end may 

 be sold for this purpose at from $5 to $15 per cord, unpeeled, 

 where there is a market for it. Cordwood cost from $3 to $6 

 delivered at the mill and about | cord may be obtained from the 

 limbs and tops per M feet of sawlogs. 



Summing up the factors which influence the possible returns 

 from hemlock timber, the logging and milling cost from $8 to 

 $10 per M; and the lumber was worth about $16 per M at the 

 mill, leaving a margin of $6 to $8 for stumpage and profit. To 

 this it was possible to add under favorable market conditions 

 $1.50 to $2.50 per M from the sale of bark and $1 per M from 

 pulp- wood. Therefore, the total returns per M should be from 

 $6 to $11.50. 



While important locally aspen forms such a small percentage 

 of the total amount of wood used in the United States that sepa- 

 rate census stumpage figures have never been given for it. At 

 the present time it sells on the stump for $1 to $5 per cord accord- 

 ing to the proximity of plants which use it. Wood pulp for paper 

 and excelsior are the two principal ways in which it is manu- 

 factured and for both uses it commands a price of $7 to $9 a cord, 

 peeled. In both industries peeled four-foot bolts are the form in 

 which aspen is usually sold. The minimum top diameter inside 

 the bark is four inches so that it does not pay to cut trees which are 

 less than eight inches in diameter, breast-high. Logging is started 

 about the first of May and must be completed before July i to 

 take advantage of the spring peeling season. Two men can fell 

 and peel about 50 trees or 12 cords per day. Sawing into four- 



