﻿COTTONWOOD IN THE MISSISSIPPI VALLEY'. 47 



The possibility of pulp companies growing cottonwood near their 

 plants is of special interest. It does not seem unlikely that the much 

 higher stumpage value of pulp wood located within hauling or short 

 shipping distance of such mills may even justify the use of fairly 

 good farm land for this purpose. For example, if a company, by cul- 

 tivation, thinning, etc., could raise a crop of cottonwood in 12 years, 

 with a yield of 47 cords per acre, worth $2 per cord on the stump, 

 it might be feasible to invest as much as $50 per acre in land, pro- 

 vided it were rich, moist, but well-drained bottom land naturally 

 adapted to the tree. Land as expensive as this would be already 

 cleared. It could be put into condition for planting by plowing, 

 etc., for $2 per acre. Assuming that 6 per cent return would satisfy 

 a company growing its own pulpwood, the following outlay per acre 

 would be adequate : x 



Interest on cost of land at $50, 12 years, at 6 per cent $50. 61 



Initial outlay (stock $1.50, planting $2.50, soil preparation, $2), $6, 12 



years, at 6 per cent 12.07 



Taxes (2 per cent on one-half value), 50 cents per year, 12 years, at 



6 per cent 8.43 



Thinning at eight years, $2, four years, at 6 per cent 2. 52 



Cultivation, $4 per year first two years 15. 64 



89.27 



The gross returns would be represented by 47 cords of pulp wood 

 at $2 per cord, or $94. 



The crop would be renewed by stump sprouts at practically no cost, 

 except cutting back all but the bast sprout on each stump during the 

 summer after felling. This should not exceed $2 per acre. Culti- 

 vation would be necessary, since the renewed stand would be only 

 half as dense. Because of the more branchy growth pruning would 

 doubtless be needed after 3 or 4 years, but no thinning would be 

 required. A 10-year rotation would probably be ample for this cop- 

 pice growth, so that the new crop could easily return 8 per cent, as 

 shown by the following costs and returns per acre : 



Interest on cost of land, at $50, 10 years at 8 per cent $57. 95 



Cutting off sprouts, $2, 10 years, at 8 per cent 4.32 



Taxes (2 per cent on one-half valuation), 50 cents, 10 years at 8 per 



cent 7. 24 



Cultivation, $4 per year for first two years at 8 per cent 16. 63 



Pruning when 4 years old, $5 at 8 per cent 7. 93 



Total : 94.07 



Gross returns, 47 cords pulp wood at $2 : 94. 00 



1 No filling in of blanks will be necessary because of the close planting and thorough 

 prepartion of the ground. 



