202 HOW TO FIND THE VALUE OF 



tations, tliey are divided into tlirce different and 

 distinct classes, namely : — 



1st, Plantations not thinned for the first time. 



2d, Ditto, which have been thinned, but are 

 under full-timber size. 



3d, Djtto, full-timber size. 



As each of these classes of plantations is valued in 

 a manner different from the others, I shall here 

 treat the manner of valuing in each case separately. 

 With regard to the first, then — were I called upon 

 to give the transferable value of any young plan- 

 tation which had not been thinned for the first time 

 when I saw it, I would in the first place calculate 

 the original expense of fencing and planting ; and 

 having ascertained tliis point, I would next measure 

 the extent of the plantation in acres, and put upon 

 it a rent per acre, corresponding with the land in the 

 immediate neighbourhood, but in all cases making 

 an allowance for inaccessible heights and hoUoAvs. 

 Then, the rule for finding the valuation is — to the 

 cost of fencing and planting, and the rent of the land 

 occupied for the time, add the sum of compound 

 interest on the amount of these, and the result 

 will be a fair transferable value between two parties. 



With regard to the second class of plantations 

 mentioned above, namely, those which have been 

 thinned, but are under full-timber size : — 



Wlien trees attain a size when it is necessary to 

 thin them for the first time, they will then afford 



