﻿24 



BULLETIN 11, IT. S. DEPARTMENT OF AGRICULTURE. 



Table 22. — Net -profits per acre and corresponding compound interest rates from loblolly 

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



Quality I.- 



-FOR TREES 5 INCHES AND OVER IN DIAMETER BREASTHIGH, LUMBER 

 CUT AND SOLD UNGRADED. 











Net profit 3 and corresponding compound interest rate * on 





Initial investment. 





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 



| 



($40. 89 



11.72 



$35. 91 



11.08 



$24.29 



9.24 



$5.59 



3.82 





$5 



3 



8 



[ $2. 21 



J 37.89 



9.13 



32.91 



8.50 



21.29 



6.70 



2.59 



1.41 





1 5 



10 



1 35.89 



7.92 



30.91 



7.30 



19.29 



5.52 



.59 



.29 







1 7 

 f 



12 



10 



J 



1 



I 33.89 

 f 39. 79 



6.94 

 8.36 



28.91 

 34.81 



6.32 



7.79 



17.29 

 23.19 



4.56 

 6.18 







20 



4.49 



1.87 





10 



I 3 



13 



I 3.31 



J 36.79 



6.94 



31.81 



6.38 



20.19 



4.80 



1.49 



.54 





1 5 

 I 7 



f 



15 

 17 



5 



1 34.79 

 I 32. 79 



f 94.06 



6.18 

 5.52 



10.47 



29.81 

 27.81 



84.52 



5.62 

 4.97 



10.09 



18.19 

 16.19 



62.26 



4.05 

 3.40 



9.05 















17.16 



5.09 





1 K 



3 



8 



| 4.74 



1 91.06 



8.74 



81.52 



8.38 



59.26 



7.36 



14.16 



3.45 







1 5 



10 



1 89.06 



7.94 



79.52 



7.58 



57.26 



6.56 



12.16 



2.69 



30 





I 7 



12 



J 



I 87.06 



7.29 



77.52 



6.93 



55.26 



5.91 



10.16 



2.07 





r o 



' 10 





f 91.68 



8.04 



82.14 



7.68 



59.88 



6.70 



14.78 



3.07 





10 



3 



13 



7.12 



J 88.68 



7.10 



79.14 



6.75 



56.88 



5.77 



11.78 



2.17 





1 5 



15 



1 86.68 



6.59 



77.14 



6.24 



54. 88 



5.26 



9.78 



1.69 







I 7 



17 





I 84.68 



6.14 



75.14 



5.79 



52.88 



4.83 



7.78 



1.26 







f o 



5 



] 



(145. 41 



8.88 



131.13 



8.61 



97.81 



7.85 



26.41 



4.70 





. 



3 



8 



| 9.29 



1 142. 41 



7.61 



128. 13 



7.34 



94.81 



6.59 



23.41 



3.48 









1 5 



10 



1140.41 



7.01 



126. 13 



6.75 



92.81 



6.00 



.21.41 



2.90 



40 





I 7 



12 



J 



U38. 41 



6.52 



124. 13 



6.26 



90.81 



5.52 



19.41 



2.44 





f o 



10 



| 



(140. 77 



7.02 



126. 49 



6.75 



93.17 



6.01 



21.77 



2.93 





10 



3 



13 



| 13. 93 



1137.77 



6.32 



123. 49 



6.05 



90.17 



5.31 



18.77 



2.26 





1 5 



15 



1135.77 



5.94 



121.49 



5.68 



88.17 



4.94 



16.77 



1.89 







I 7 



17 



J 



1133.77 



5.61 



119.49 



5.35 



86.17 



4.61 



14.77 



1.58 







f 



5 



| 



(194. 48 



7.65 



174.92 



7.42 



129.28 



6.80 



31.48 



4.06 





5 



J 3 



8 



i 17.42 



J 191. 48 



6.64 



171.92 



6.42 



126. 28 



5.80 



28.48 



3.08 





5 



10 



1189.48 



6.17 



169. 92 



5.95 



124.28 



5.33 



26.48 



2.62 



50 





I 7 



12 



J 



U87. 48 



5.78 



167. 92 



5.56 



122. 28 



4.95 



24.48 



2.25 





f 



10 



| 



f 185. 77 



6.13 



166.21 



5.91 



120. 57 



5.27 



22.77 



2.40 





10 



J 3 



13 



| 26. 13 



1182.77 



5.57 



163. 21 



5.35 



117.57 



4.72 



19.77 



1.87 





1 5 



15 



1 180. 77 



5.27 



161.21 



5.05 



115.57 



4.42 



17.77 



1.57 







I 7 



17 



J 



U78.77 



5.01 



159. 21 



4.79 



113.57 



4.16 



15.77 



1.32 



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 14, less original cost of formation and total cost of administration and 

 taxes. "VVhere no net profit is shown, a loss is indicated. 



* Calculated by formula p=100 ( ?W ~JT — 1 ) , where p = compound interest rate, «=number of 



years or rotation, S=stumpage value at n years, i=cost of land, jF=cost of formation, and j4=cost of 

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



