46 



TIMBER DEPLETION, PRICES, EXPORTS, AND OWNERSHIP. 



200 



190 



180 



no 



160 



ISO 



130 



IBO 



110 



100 



90 



60 



70 



60 



50 



TREND OF AVERAGE PRICES OF UPPER 

 GRADES OF WALNUT AND EASTERN WHITE 

 PINE, IN RELATION TO UPPER GRADES OF 

 SOUTHERN YELLOW PINE. 



WHOLESALE PK/CES PEf? M. FEET //V 

 EASTERN MARKETS 



quotation on 

 Walnut after 191 8 





- 



30 



10 

 1840 I84S IBSO 1855 I860 1865 I87O 1875 I88O 1885 1890 1895 I90O I9O5 1910 /9IS 1320 



FIG. 16. 



