TIMBER ESTIMATING 169 



but logging to the portable mill averages about $2 per M. 

 Cutting cordwood costs from 90 cents to $1.25 per cord. 



As said before, when the cost of cutting, logging, and hauling 

 has been deducted from the price to be received for the logs, the 

 stumpage value is secured, which is the value to the owner acting 

 as his own jobber. A lumberman would not pay so much as 

 this, as he must necessarily make his own profit also, which may 

 be considered as a commission paid the lumberman by the owner. 



The commission paid to a lumberman when stumpage is sold 

 him varies considerably, but averages about one-half the net 

 value of the standing timber. For example, if logs are worth 

 $12 a thousand feet at the mill and it costs $6 to get them to 

 the mill, they will be worth to the owner about $6, if he is a suc- 

 cessful lumberman. If he sells the stumpage, however, he will 

 rarely receive over $3 per thousand. In other words, he pays a 

 commission of $3 to the lumberman. 



The following is a summary of prices and costs for an average 

 lumber operation, when the price of logs at the mill is $12 and 

 for sawed lumber delivered is $20 per M. 



Per M. Per M. 



Stumpage price $3 . 00 



Lumberman's profit 3 . 00 



Cost of cutting, skidding, and hauling. . . . O.oo 



Cost of logs at the mill $12.00 



Cost of sawing 3 . 00 



Cost of transporting 2 .00 



Millman's profit 3 . 00 



8.00 



Sawed lumber delivered $20.00 



In the future this method will largely give way to that of sell- 

 ing at a definite rate per thousand feet, board measure (or other 

 unit), based on the actual cut at the mill. 



When the stumpage value per thousand feet and per cord has 

 been ascertained, it is an easy matter to determine the value of 

 the standing timber on a lot by simply multiplying by the amount 

 obtained in the estimate. 



In many cases when lumbermen make an offer for the stump- 



