﻿22 



BULLETIN 11, IT. S. DEPARTMENT OP AGRICULTURE. 



Table 20. — Net profits per acre and corresponding compound interest rates from loblolly 

 pine, for different initial investments, rotations, and distances from market. 



Quality II.— FOR TREES 7 INCHES AND OVER IN DIAMETER BREASTHIGH, CUT AND 

 GRADED AS NORTII CAROLINA PINE LUMBER. 











Net profit 3 and corresponding compound interest rate * on 





Initial investments. 





total initial investment at different distances from 



market 









Cost 2 of ad- 

 ministration 



or shipping point. 

































Rota- 

 tion. 









and taxes at 

 6 per cent 



1 mile. 



4 miles. 



8 miles. 



16 miles. 











compound 

 interest. 



















Land. 



Forma- 

 tion. 1 



Total. 



Net 

 profit. 



Inter- 

 est 

 rate. 



Net 

 profit. 



Inter- 

 est 

 rate. 



Net 

 profit. 



Inter- 

 est 

 rate. 



Net 

 profit. 



Inter- 

 est 

 rate. 



Years. 













Per ct. 





Per ct. 





Per ct. 





Per ct. 







f so 



$5 



1 



f$15. 60 



7.34 



$13. 85 



6.86 



$11.64 



6.20 



$7.50 



4.68 





' $5 



3 



8 



i $2. 21 



J 12.60 



4.84 



10. 85 



4.38 



8.64 



3.73 



4.50 



2.26 





1 ° 



10 



1 10.60 



3.68 



8.85 



3.22 



6.64 



2.58 



2.50 



1.12 



20 





\ 7 



12 



J 



I 8.60 



2.74 



6.85 



2.28 



4.64 



1.65 



.50 



.21 





f ° 



10 



1 



f 14.50 



4.58 



12.75 



4.20 



10.54 



3.66 



6.40 



2.51 





10 



1 3 



13 



I 3.31 



J 11.50 



3.22 



9.75 



2.84 



7.54 



2.31 



3.40 



1.17 





1 *> 



15 



1 9. 50 



2.48 



7.75 



2.10 



5.54 



1.58 



1.40 



.45 







I 7 

 f 



17 

 5 



J 



1 



I 7.50 

 1 56.40 



1.84 

 8.72 



5.75 

 50.78 



1.47 

 8.37 



3.54 

 43. 61 



.95 

 7.88 









29.89 



6.69 





' 5 



3 



8 



I 4.74 



I 53.40 



7.03 



47.78 



6.69 



40.61 



6.20 



26.89 



5.03 





1 5 



10 



| 51.40 



6.24 



45. 78 



5.90 



38. 61 



5.41 



24.89 



4.25 



30 





I 7 



12 



J 



I 49.40 



5.59 



43.78 



5.25 



36.61 



4.77 



22.89 



3.62 





f ° 



10 



| 



f 54.02 



6.38 



48.40 



6.06 



41.23 



5.60 



27.51 



4.50 





10 



1 3 



13 



I 7.12 



) 51.02 



5.46 



45.40 



5.14 



38. 23 



4.68 



24. 51 



3.59 





5 



15 



1 49.02 



4.96 



43. 40 



4.63 



36. 23 



4.18 



22.51 



3.10 







l 7 



' 17 



J 



I 47.02 



4.52 



41.40 



4.20 



34.23 



3.75 



20.51 



2.67 







f o 



5 



1 



f 99.62 



7.90 



90.34 



7.65 



78.38 



7.29 



55.28 



6.42 





' 5 



1 3 



8 



I 9.29 



I 96.62 



6.64 



87.34 



6.39 



75.38 



6.03 



52.28 



5.18 





5 



10 



1 94.62 



6.04 



85.34 



5.80 



73.38 



5.45 



50.28 



4.59 



40 





I 7 



12 



J 



I 92.62 



5.56 



83. 34 



5.32 



71.38 



4.96 



48.28 



4.19 





f o 



10 



1 



f 94.98 



6.05 



85. 70 



5.81 



73.74 



5. 46 



50.64 



4.61 





10 



3 



13 



I 13.93 



J 91.98 



5.36 



82.70 



5.12 



70.74 



4.77 



47.64 



3.92 





1 5 



15 



1 89.98 



4.98 



80.70 



4.74 



68.74 



4.39 



45.64 



3.55 







I 7 



17 



J 



I 87.98 



4.66 



78.70 



4.41 



60. 74 



4.07 



43. 64 



3.23 







f 



5 



| 



1151.07 



7.13 



137. 51 



6.93 



119. 87 



6.65 



85. 52 



5.96 







1 3 



8 



I 17.42 



1148.07 



6.12 



134. 51 



5.93 



116.87 



5.65 



82.52 



4.97 







1 •> 



10 



1 146. 07 



5.65 



132. 51 



5.46 



114.87 



5.18 



80. 52 



4.50 



50 





I 7 



12 



J 



1144.07 



5.26 



130. 51 



5.07 



112. 87 



4.80 



78.52 



4.12 





f o 



io 



1 



1142. 36 



5.60 



128. 80 



5.40 



111.16 



5.12 



76.81 



4.42 





10 



3 



13 



I 26. 13 



J 139. 36 



5. 05 



125. 80 



4.85 



108. 16 



4.56 



73.81 



3.87 





5 



15 



1137.36 



4.75 



123. 80 



4.55 



106. 16 



4.27 



71. 81 



3.57 







7 



17 



J 



(135.36 



4.48 



121.80 



4.29 



104. 16 



4.01 



69. 81 



3.31 



1 Cost of establishing a loblolly pine stand, either by natural or artificial reproduction. 



2 Three cents per acre annually for administration (including fire protection), and 6 mills on the dollar 

 (full valuation) annually for taxes, which is above present average tax for the region. 



3 Stumpage value as given in Table 15, less original cost of formation and total cost of administration and 

 taxes. Where no net profit is shown, a loss is in dicated. 



* Calculated by formula p=W0 \-U-^ — — — — 1)> where />=compound interest rate, m=number of 



years or rotation, 5=stumpage value at n years, X=cost of land, .F=eost of formation, and ^.=cost of 

 administration and taxes in n years at 6 per cent compound interest. 



