THE WOODLOT IN RELATION TO FARM MANAGEMENT 47 



Ozark region of Missouri and Arkansas. There are two coun- 

 ties selected for Indiana, one in the southern hill portion and 

 the other in the northern part. These counties are in addi- 

 tion to the one already canvassed for the central belt and all 

 three represent belts which extend outside the State. One 

 locality is chosen in northern Wisconsin to represent the 

 timber and farming conditions of both northern Minnesota and 

 Wisconsin and one for the southern part of Minnesota. The 

 two remaining localities represent conditions in the prairie 

 region and will be selected in eastern Iowa and southeastern 

 Nebraska. 



One of the main objects of the study is to show the cap- 

 italized value of the woodlot land based on net returns from 

 the products and an interest rate of 5 per cent compared 

 with the actual sale value of woodland. In arriving at this 

 value the gross value of all woodlot products, used on the 

 farm and sold, is found and from this amount is deducted 

 the cost of maintaining the woodlot and the labor cost of 

 getting out and marketing the products. For the Connecti- 

 cut locality the estimated value of woodlot land average $8.13 

 per acre and the capitalized value of $10.80, leaving a balance 

 of $2.67 per acre in favor of the woodlot business. This is 

 due to the fact that the land is rough and ledgy with low 

 farming values. In the central belt of Indiana the farming 

 values are high with level fertile land easily cultivated which 

 makes the showing decidedly against the woodlot on a strict 

 financial basis. Here the average estimated value of woodlot 

 land per acre is $128.31, and the economic value $26.20, leav- 

 ing a balance against the woodlot of $102.11. In other words, 

 land which will sell for $128 per acre is used for woodlot 

 purposes giving returns on a $26 per acre valuation only. 

 The character of the land and its suitability for farming de- 

 termines largely the value of the woodlot business. In Chester 

 County, southeastern Pennsylvania, there is good farmland 

 but the woodland is usually on the rougher parts. Here the 

 values are more nearly equal as the estimated value per acre 

 is $18.16 and the economic value $28.40, leaving a balance in 

 favor of the woodlot of $10.24. In central North Carolina 

 the economic value is low $5.80 per acre and the balance 



