adopted. Whether it is too high or too low, the purchaser 

 must decide for himself. 



By- this rule, a group worth five dollars per acre at an 

 average haul of a mile, would stand at $4,50 with a haul of a 

 mile and a half, and at one dollar with a haul of five miles. 



Of the hewing timber, hemlock and hard wood, no mention, 

 in general, is made in the catalogue. 



Many of the groups are wholly or in part good farming 

 lands. Of this, too, no mention has generally been made. It 

 was thought that purchasers, at the sale, would so generally 

 make their purchases solely with reference to the pine, that it was 

 hardly worth while to note points which would only increase 

 the bulk of the catalogue without any corresponding advantage. 



The catalogue shows the quality and quantity of pine upon 

 each group according to the estimates in the office of the Com- 

 pany, and the maps show the distance from floating water, 

 so that the purchaser has before him, substantially, all the 

 information in possession of the Company, and can form his 

 own estimate of the value of the different groups, without 

 regard to the valuation, or minimum price. 



These lands were selected with great care nearly ten 

 years since. All the pine lands in the state then owned by 

 the Government were examined by the agents of the Com- 

 pany, and the best only selected. In all cases two, and in 

 many cases several distinct examinations were made by 

 different parties unknown to each other before they were 

 taken by the Company, and with rare exceptions the selections 

 were well made. 



After the lands were all taken, a re-examination and a 

 scaling of the timber upon every forty acre lot was made by 

 competent men ; so that there is in the office of the Company 

 at Detroit, an estimate of the timber upon each tract. These 

 estimates were made for the exclusive use of the Company, 

 but in order that those who may wish to purchase may have 

 all the information which it may be in the power of the 

 Company to give, it has been determined to open the field 

 notes and scaling estimates to public inspection; and every 



