lyo FORESTRY IN NEW ENGLAND 



age the computations above referred to will be useful to ascertain 

 whether ojOfers are satisfactory or not. The experienced lumber- 

 man does not make these detailed computations but knows from 

 past experience about what he can give for stumpage to make a 

 fair profit. 



Most timber in the past has been sold by the lot and not by 

 stumpage price, but even in this case both the purchaser and the 

 seller have their estimates of the amount of lumber on the lot, 

 and regulate their prices accordingly. 



