LOGGING PRACTICE IN THE LAKE STATES 51 
cut ahead of it, then the annual proceeds of 1 acre must provide for 
fire protection, taxes, and interest on land value for 100 acres, as is 
shown in Table 10. Where logging removes all saw-log timber but 
leaves the smaller trees suitable for ties, mine props, and chemical 
wood, so that the stand is renewed in 60 years, and 1 acre must pay 
carrying costs on 60 acres only, it is justifiable to charge some interest 
for the value of the small timber left. (Table 11.) 
These computations are based on the assumption that the stumpage 
prices within the next 60 or 100 years will remain stationary. As a 
matter of fact, judging by the rate of increase in the past, stumpage 
prices will probably double within the next 40 years. 
TABLE 10.—Annual costs and returns from clear cutting in old hardwood stands; 
100 acres in 100 years; yield, 6,000 board feet per acre 
Item : Costs | Returns 
§;000 board, feet cutiannually on 1 acre,/at $6:502.- 2-2-2 $39. 00 
Fire protection on 100 acres at 3 cents per acre__________-__--_____---_-_-__--_-_- $3. 00 
pRaxesatelOKCeN ts eM ACke sama om aiu nee Ne eNO rl sei ee VI a Gye 10. 00 
Interest on land value of $2 per acre, at 4 per cent____________-__________-_-____- 8.00 
Ammnualycost-ofearnyin s 10QaCresue aches eee Pee eS eer ie Ee eee a eee es 21.00 
ING Gre GUIEHRONELO OPA CES see eee een min uaa cyeregina ede oemu en nape ls Ce Ca a nel eck iy aye a eal ice aapeietieal 18.00 
ING TATE FUDDED CTI 2 CLE ten ee cease se eae ah ost e Ee eN ES atl ie Oe A se le aad .18 
TABLE 11.—Annual costs and returns from cutting only trees of saw-log size on 
100 acres of old hardwoods in 60 years; yield, 6,000 board feet per acre 
Item Costs Returns 
6:000iboard feet cut annuallyion Wacre, at: $6250) 22282 ie ee ee $39. 00 
Fire protection on 60 acres, at 3 cents per acre___________________1____--_---____- $1. 80 
Maxesiand interestvon cordswood lettas selene ae a eee es RS ee 12. 00 
Interest on land value of $2 an acre, at 4 per cent__--_-_.-__-__-_-___-_-_-___-________- 4.80 
PUTT COS tO CAN YATE OOLACTOSS ae eiia wii s yee eo RN UM ies toa uo eee ec ade ea 18. 60 
ING bene CUTTY GOS CKOS bees ee ates ey pa he ahi eed loaner nat ney arate RN S| San ere 20. 40 
NGG GO LUDT SCTE CLO ser tie the re RSE ne daa bee ee ee) BV ce) apie Caen Muli atl Oe ees ae . 34 
Under selective logging, in which one-third of the volume of the 
stand is removed, the growth that may be expected after logging will 
vary from 100 to 200 board feet per acre per year, according to the 
distribution of tree sizes left and the original volume. If, for 
instance, the original stand had 12,000 board feet and the proportion 
of trees between 11 and 18 inches in diameter was fairly large, an 
annual growth of 200 board feet per acre, after removing 4,000 board 
feet, is not excessive. If, on the other hand, the original stand had 
only 6,500 board feet per acre and 2,500 board feet were removed 
in the first logging, an annual growth of 100 or at the most 125 
board feet per acre is about all that may be expected. As a general 
rule, a forest cut selectively will grow at the rate of from 2 to 2.5 
per cent a year. At this rate the timber removed in the first logging 
is replaced by growth within 20 or 25 years. 
In attempting to determine the financial possibilities of such 
forest practice, the costs, investments, and returns must be con- 
