TITLES 47 



Productively, too, their value is much the same. On a rota- 

 tion of IOC years, with interest at 3 per cent, cost of restocking, 

 $10, annual charges, 50 cents, and a final yield of 50M board feet 

 worth $10 per M the land has a productive value of $7 per acre. 

 This is conservative because a yield of soM per acre should be 

 obtainable without thinning on poor quality soil. 



Titles. — The form of lots within the white pine type differs 

 radically in the two main regions where this type occurs. In 

 the woodlot section of New England and New York the lots are 

 parts of the farms and hence may take any shape. Ordinarily, 

 too, they are in small units of 50 acres or less. Hence, the title 

 question is always a difficult one. The lots are difficult to locate 

 on the ground and still more troublesome in tracing claims of 

 titles. Oftentimes it is necessary to purchase a whole farm with 

 its arable land and buildings in order to get undisputed posses- 

 sion to a piece of timber. In the Lake States, however, the 

 situation is entirely different. There the township surveys apply 

 and the subdivision of a property into 40-acre units is com- 

 paratively simple. Furthermore, the land has little value for 

 farming and has never been divided into small holdings. The 

 large lumber companies took possession directly from the State 

 or United States and there have been few transfers since. Loca- 

 tion and title searching in the Lake States white pine region is an 

 entirely different problem from that which confronts one in the 

 farm woodlot section. 



