SHORTLEAF PINE IN VIRGINIA 

 TABLE 11. 



29 



Annual increment per acre in board feet of trees of shortleaf pine nine 

 inches and over in diameter breasthigh. 



Cost af Growing Saw Timber. If only the maximum annual 

 yield were to be considered in growing, timber it would undoubt- 

 edly be advisable in all cases to hold timber until this could be 

 secured. The cost of carrying the investment, however, is a factor 

 which cannot be overlooked. The land has a sale value, and taxes 

 are paid upon it yearly. In addition, the cost of protection, such 

 as maintaining fences, extinguishing fires, etc., must often be borne. 



In making a calculation of the cost of growing timber it is 

 necessary to determine, from the time stocking took place to the 

 time when the timber is out, the accumulated taxes paid on the 

 land and the interest compounded annually on the investment 

 represented by the value of the land and the cost of stocking it. 

 In making this calculation, both the actual and tax assessment 

 value of the land has been assumed to be $5 an acre for the entire 

 period of growth. The tax rate and other expenses are assumed 

 to be one per cent, on this valuation. If the owner is content 

 with a gross interest of six per cent, on his investment, then the 

 net rate, after deducting taxes and other expenses, will be five per 

 cent, a year. 



In the old-field stands there is no cost of stocking to consider. 

 The profits of thinnings are supposed to be the same as those 

 given in column 7, Table 8, for cordwood. 



In order to obtain a six per cent, investment which, after 

 allowing one per cent, per annum for taxes and protection, will 

 yield five per cent, net, the following yields and prices must be 

 secured. The value of the land is placed at $5 an acre. If stump- 



