TIMBER VALUATION 43 



they use the manufacturers paid $50 per M but these had to be 

 at least eight inches wide and free from red heartwood. The 

 weight, hardness and high percentage of defect are responsible for 

 decreasing the stumpage price of this valuable wood. All three 

 factors mean a high cost of logging which is still further increased 

 by the scattered way in which hickory occurs. Consequently it 

 was seldom possible to log and mill hickory for less than $12 per 

 M and even then not more than 50 per cent of what would ordi- 

 narily be considered merchantable was put into lumber. Hence 

 the largest stumpage price that can be expected for even acces- 

 sible timber is $10 per M and the average is under $5. 



Some willow and alder occur in this type along the stream 

 courses. Barring the use of the former for willow rods, which is 

 more of an agricultural than forest use, the highest returns can 

 be secured by converting the wood into charcoal for black pow- 

 der. The wholesale price for charcoal was 50 cents per bushel 

 (191 6) and one cord of four-foot wood made 20 bushels of char- 

 coal, the cost of which, including burning, was usually figured at 

 50 cents per cord. Hence there may be, under favorable circum- 

 stances, a margin of over $9 per cord in handling willow and alder 

 charcoal. But, unfortunately, the demand is so localized that 

 there are only a few places where charcoal can be sold. These 

 species are, therefore, seldom reckoned as an asset. 



Beech has already been discussed in the hardwood t>'pe. Like- 

 wise there are only two species of birch which need further elabo- 

 ration, the gray birch and the black or cherry birch. The former 

 is a small species which is utilized locally. Close to spool or 

 bobbin mills, or a good market for cordwood, it can be sold for 

 $1 to $2 a cord on the stump while four-foot wood at least three 

 inches at the top end inside the bark brought $3 to $5 per cord 

 delivered in 191 5. The cost of cutting and stacking was seldom 

 greater than $1 .50 if the tops were not piled. Hauling varied with 

 the distance; on a good road a pair of horses should haul a cord 

 without difficulty. Summing up, gray birch is only an asset in 

 the most accessible localities and does not bring more than $3 a 

 cord stumpage even there. It is, however, often a detriment to 

 a tract of white pine because its rapid growth enables it to over- 



