46 



TIMBER DEPLETION, PRICES, EXPORTS, AND OWNERSHIP. 



200 



190 



I8O 



no 



160 



150 



140 



130 



ISO 



110 



TREND OF AVERAGE PRICES OF UPPER 

 GRADES OF WALNUT AND EASTERN WHITE 

 PINE, IN RELATION TO UPPER GRADES OF 

 SOUTHERN YELLOW PINE. 



WHOLESALE Pff/CES PEff M. FEET /N 

 E/lSTEfM MdffKETS 



too 



90 



BO 



70 



60 



50 



4-0 



30 



faa 



5 



Q: 

 uj 



IO 

 IB40 184-S I&50 1855 I860 1865 1870 1875 I88O 1885 1890 1895 1900 I9O5 1910 1915 1320 



FIG. 16. 



