28 



YELLOW POPLAR IN TENNESSEE. 



Increase in value with size. Table 11 shows the value per 1,000 board 

 feet of lumber sawed from trees of different diameters and the value of 

 lumber sawed from each tree f. o. b. Knoxville, Tennessee, and the stump- 

 age value per tree under operating expenses of $10, $12, $14, and $16 per 

 1,000 board feet. 



TABLE 11. Stumpage values of trees of different sizes under different 

 costs of operation and the stumpage vakie per 1,000 feet of the lum- 

 ber from such trees. 



Operating expenses embrace the costs of logging, sawing, selling, grad- 

 ing, insurance, carrying stock, carrying timber, salaries and all overhead 

 charges ; cost of hauling or transporting from mill to railroad ; an allow- 

 ance for difference in freight to compensate for the difference in the price 



