TIMBER VALUATION 77 



the boundaries of the larger tracts. In the Ohio and upper Mis- 

 sissippi valleys the holdings are commonly small since they are 

 merely portions of farms which could not be tiUed to advantage. 

 Obviously a latger per cent of a small tract must be estimated 

 than of a large tract. 



Another complicating factor is the variation between types. 

 This has already been referred to. Fortunately, however, the 

 type which contains the most timber, the cove type, is the most 

 accessible while the scantily timbered ridge type is the least so- 

 In estimating, therefore, it is not necessary to take a uniform 

 percentage of the three types but the amounts covered should 

 stand in the ratio of 5 : 3 : i. In other words, if a 5 per cent 

 estimate is to be made of the ridge type, 15 per cent of the slope 

 type should be covered, and 25 per cent of the cove type. 



The third obstacle to be overcome is the variation in merchant- 

 able limits. Each species must be investigated locally before it 

 is impossible to say to what size it should be estimated because 

 the diameter limits are determined by the local markets. In 

 general, however, it may be said that lumber should not be esti- 

 mated below 10 inches dbh. and six inches in the top, cordwood 

 eight inches dbh. and four inches in the top, poles to a top diam- 

 eter of five inches and posts to three inches at the top end. 



The actual costs per acre of estimating southern hardwoods 

 run from 45 cents to 3 cents with an average of 10 cents per 

 acre where the work is done in the usual way, i.e., strips 66 feet 

 wide nm out from the base line in cardinal directions so as to 

 cross the topographic features as nearly as possible at right angles. 



The Twelfth (1900) Census gives the following figures for aver- 

 age stumpage values for the species in this type: 



PerM 



White pine 13-66 



Hemlock 256 



Shortleaf pine 112 



Black walnut 5°° 



Chestnut 2.71 



Oak, white 318 



Yellow poplar 2 . 81 



