328 THE BOOK OF THE LANDED ESTATE. 



great many disputed questions to examine and arrange ; and it requires 

 all the forethought and energy of a land -valuer to keep all parties 

 concerned right, especially as many of the severance -valuations, and 

 perhaps damages to be considered for injured amenity to a proprietor's 

 mansion, are apt to be too slightly valued by the one side, and a 

 too fanciful price put upon them by the other. The great thing is 

 to have a fair and reasonable value put upon all these things ; and no 

 attention should be paid to either very low estimates on the part of the 

 railway company, or an extravagant valuation put upon them by the 

 proprietor. 



SECTION 5. The Valuation of Woods and Plantations. 



In the valuation of a landed estate, it is very important to have the 

 woods and plantations and park timber valued properly. This is often 

 done very injudiciously. I shall describe the way in which I have 

 been in the custom of valuing standing crops of timber for a transfer. 

 I take all the ages of trees in three divisions the first being 

 young plantations which have only been a few years planted, and 

 which have not been thinned ; the second division is that class of 

 trees which are of the ages above the first class, and under full-grown 

 timber-trees ; and the last division is that of trees arrived at the size of 

 full-grown timber. . 



In valuing the first class of trees, I estimate, on the one hand, the pro- 

 bable expense of the first formation of the plantation this will include 

 fencing, draining, cost of plants, and planting them arid to this I add 

 the value per acre that the land would have realised, if let for farming 

 purposes for the number of years it had been under the crop of trees ; 

 and to this sum I add compound interest for the time, at so much per 

 cent, according as I find the crop. 



In valuing a crop of trees above those already described, and under 

 full-grown trees, I do it in the following manner : 



Presuming that we have a crop of trees to value, and which are in 

 this year (1808) forty-six years old, and we will suppose, from the ap- 

 pearance of the trees, that they will become matured in eighteen years 

 hence, or in 1886, then the statement would be thus : 



Probable value of thinnings that will be removed from one 

 acre of this crop in the eighteen years from 1868 to 1886, 12 



Probable value of the crop on one acre in 1886, when ma- 

 tured, 70 



Carry forward, ,82 



