SALES METHODS AND CONTRACTS 



147 



A sample estimate of the stumpage value is given below. 48 

 It is merely an exceedingly simple estimate of the sale value of 

 the material with the cost of putting it on the market deducted. 

 These stumpage value estimates are often high; in one case 

 the total value was estimated at 480,000 francs ($92,640) or 

 2.60 francs per cubic metre ($0.014 P er cubic foot), whereas the 

 price realized was 350,000 francs ($67,550) or 1.90 francs per 

 cubic metre ($0.0 1 per cubic foot). 

 Corsican Pine. 



53,635 trees, 111,338 steres (30,717 cords) lumber. 

 Maritime Pine. 



12,494 trees, 13,720 steres (3785 cords) dimension stuff. 

 (And for the two 90,151 steres (24,872 cords) of firewood.) 



TABLE 21 



i.e., 3.80 francs per cubic metre ($2.69 per cord). 



The interesting features of this sale may be summarized as 49 

 follows : 



The timber was sold standing with no guarantee as to esti- 

 mate, nor insurance against total loss from acts of Providence, 

 but provision is made for the sale on a unit basis of additional 



48 Based on official report for the Asco sale. 



49 Based on official "cahier des charges" for the Asco sale. 



