32 TIMBER BONDS 



bond issue begins. We have in constant em- 

 ploy W. E. Straight, of Chicago, formerly of 

 Michigan, who is a timber cruiser of high repu- 

 tation, and over 30 years' active experience in 

 estimating all varieties of timber. A timber 

 cruiser's business is to go into the woods and 

 make an estimate of the amount of lumber the 

 trees will cut, which is given to the owner in 

 written reports. As the owner manufactures 

 the trees into lumber, he compares the actual 

 amount of lumber that is manufactured with 

 the estimate of the cruiser. If the reality con- 

 forms with the estimate, the cruiser has demon- 

 strated his ability for accuracy, as Mr. Straight 

 has done for many years for several of the larg- 

 est lumber interests of Michigan and elsewhere. 

 ''Some morning a modest appearing man 

 calls on the lumber company which has nego- 

 tiated for a bond issue. He asks for the com- 

 plete plats of the timber holdings. Mr. Straight 

 has begun his investigation, and is preparing to 

 make his preliminary survey. After getting in 

 his mind a picture of the extent of the timber 

 holdings as to acreage and boundaries, he is 

 ready to make a start into the woods. Accom- 

 panied by the logging superintendent or some- 

 one who is familiar with the holdings, he travels 

 the woods until he has seen every part of them. 

 He goes from one end to the other and criss- 

 cross, his work being what is known as a cruis- 

 er's running estimate. He discovers the gen- 

 eral run of the poorest and best timber, the 



