American Forkst Congress 271 



Annual expenditure after the twentieth year and 

 each year thereafter: 



Interest on investment, $909,050, at 



5 per cent $45452 



Taxes 1,500 



Reclearing, &c., 700 acres at $5 .... 3)5oo 



470,000 trees delivered, at $10 per M. 4,700 



Planting 700 trees at $5 per acre . . . 3,500 



Superintendence, &c 1,800 



Annual cost $60,452 



Cutting and delivering 600,000 

 catalpa ties f. o. b. cars at 

 20c $120,000.00 



Annual cost of ties after 20 years. 180,452.50 



It should be noted that twenty years hence, at the 

 present rate of increase in the cost of oak ties, the 

 cross ties necessary for the railroad in question will 

 cost an aggregate of four hundred thousand dollars 

 ($400,000) in the twentieth year. The saving through 

 this transaction would, therefore, be, per annum, after 

 the twentieth year, four hundred thousand dollars 

 ($400,000) less one hundred and eighty thousand four 

 hundred and fifty-two dollars and fifty cents ($180,- 

 452.50), equal to two hundred and nineteen thousand 

 five hundred and forty-seven dollars and fifty cents 

 ($219,547.50). 



The above great difference in figures would indicate 

 an enormous saving possible by railroad companies 

 undertaking to hold large areas of land, either directly 

 or indirectly, to cultivate tie timber alone. And while 

 it was possible a number of years ago for railroad 

 companies to hold large tracts of land, laws do not 



