FOREST TAXATION IN THE UNITED STATES 239 
TABLE 91.—Anticipated yield from 1 acre of fully stocked white pine in New 
Hampshire } 
Volume Stumpage Stumpage value 
eta Ad. ae SORT Rl ae OT RCO): DOF 
Age (years) Ae phone a 
: edium : feet boar . edium : 
Good site Bite Poor site SHOPS IRD Good site Bite Poor site 
M ft. b. m. | Mft. 6. m.| Mft.b.m.| Dollars Dollars Dollars Dollars 
30 aire Aste As 13. 9.6 5.3 4.00 56 38 21 
Ce vie ae 32. 8 23. 5 14, 2 5. 00 164 117 71 
Ea ese eo a Sr 49.1 36. 6 24.1 6. 00 295 220 145 
GORE Sse eee. 60. 2 46.9 33. 6 6. 50 391 305 218 
Eee Te RE 69. 9 56. 1 42.3 7. 00 489 393 296 
SORT REE ee ar a 77.8 64. 0 50. 1 7. 50 583 480 376 
OO spice sel Peo 84. 8 70. 9 57.0 8. 00 678 567 456 
1 Sources of data: Columns 2, 3, and 4 from (100, p. 72); column 5 from field data for the selected towns, 
Fremont, Richmond, and Loudon; columns 6, 7, and 8 by computation. 
These figures were reduced by 20 percent for the subnormal stocking 
that would presumably be found in the average forest, as has been 
explained above. ‘They were also reduced by the assumed allowance 
for loss of $0.025 multiplied by the number of years in the rotation 
(table 91). With these reductions, the yields at 10-year intervals 
are given in table 92. Yields for intermediate ages may be obtained 
by interpolation. 
TABLE 92.—Assumed money yields, white pine in New Hampshire! 
Stumpage value per acre ; Stumpage value per acre 
Age Age 
Good | Medium Poor Good | Medium Poor 
site site site site site site 
Dollars | Dollars Dollars Dollars | Dollars | Dollars 
30 years._--__..-.-- 43 30 HGW iO veaTseesa sana 389 312 235 
40 years____.----_-- 130 93 56 || 80 years__-._-----_- 465 382 299 
bOkyears22: a2 es == 235 175 115 || 90 years._--_----_-- 641 452 363 
60 years___--______- 311 242 173 
1 Basis for these assumed money yields is given in table 91 and the text. 
The cost of establishing a fully stocked stand of white pine by 
planting has been estimated to average $15 an acre. If natural 
regeneration can be secured, however, the cost will be reduced to that 
necessary to free the young reproduction from hardwood seedlings and 
sprouts. This work can be accomplished by one or two ‘‘ weedings’’, 
at an estimated average cost of $8 per acre and occurring at an aver- 
age age of 8 years(100). This weeding cost would be equivalent at the 
beginning of the rotation to TES = $6.32 per acre. 
Miscellaneous annual expenses other than taxes, based on the 
national-forest experience as described above, are assumed to be 
$0.10 per acre a year. 
In order to show the effect of the tax rate on the tax ratio, 1 percent 
is taken as a low rate and 3 percent as a high rate. Besides these, a 
typical tax rate for the particular locality being studied is used. For 
