FOREST VALUATION 



c. Actual values of Se. 



The following figures are taken from Endres' Valuation, and 

 Schwappach's Tables of Growth. The interest rate is three per cent. 



Income or expectation value of land per acre for different spe- 

 cies and rotations. 



For white oak in Germany two per cent, the values are as fol- 

 lows for Se: 



The above figures are based on normal yield tables of Schwap- 

 pach for spruce, pine and oak, Eichorn, 1902, for white fir, and 

 Grundner, 1904, for beech. They asume cost of reproduction twelve 

 dollars per acre for spruce, ten for fir and pine, five for beech and 

 fifteen for oak. The current expenses are taken at ninety cents per 

 acre and year for all but oak where sixty cents is used. Since the 

 above values are based on normal yield tables, assuming full and sat- 

 isfactory stands, the values require reduction in practice by at least 



