SALES METHODS AND CONTRACTS 



147 



A sample estimate of the stumpage value is given below. ^^ 

 It is merely an exceedingly simple estimate of the sale value of 

 the material with the cost of putting it on the market deducted. 

 These stumpage value estimates are often high; in one case 

 the total value was estimated at 480,000 francs ($92,640) or 

 2.60 francs per cubic metre ($0,014 per cubic foot), whereas the 

 price realized was 350,000 francs ($67,550) or 1.90 francs per 

 cubic metre ($0.01 per cubic foot). 

 Corsican Pine. — 



53,635 trees, 111,338 steres (30,717 cords) lumber. 

 Maritime Pine. — 



12,494 trees, 13,720 steres (3785 cords) dimension stuff. 

 (And for the two 90,151 steres (24,872 cords) of firewood.) 



TABLE 21 



Sale price: 



111,338 steres at 8.50 francs 



(30,717 cords at $5.94) 



13,720 steres at 5.00 francs 



(3,785 cords at $3-45) 



90,151 steres (24,872 cords) , no value 



Deduct: 



Contractors' profit of 20 per cent 



Felling, 160,000 steres at 2.50 francs . . 



(44,142 cords at $1.74) 



Fines, stamp rights 



Registry 



3 per cent of this for administration. 



946,373.00 

 68,600.00 



182,649.99 

 13,239.80 



1,014,973.00 



202,994.60 

 4,000.00 



100.00 

 120.00 



[95,889.79 

 39.177-96 



19.30 

 23.16 



207,214.60 



495,113.40 

 14,853.60 



39-992.42 



95.557-89 



2,866 75 



480,259.80 



92,691.14 



i.e., 3.80 francs per cubic metre ($2.69 per cord). 



The interesting features of this sale may be summarized as ^^ 

 follows : 



The timber was sold standing with no guarantee as to esti- 

 mate, nor insurance against total loss from acts of Pro\ddence, 

 but provision is made for the sale on a unit basis of additional 



^8 Based on official report for the Asco sale. 



^ Based on official "cahier des charges" for the Asco sale. 



