272 MISC. PUBLICATION 218, U. S. DEPT. OF AGRICULTURE 
Table 112 shows the place of taxes among the carrying charges for 
growing lobloily pine in North Carolina. In every case taxes are one 
of the heaviest of the carrying charges. 
TABLE 112.—Carrying charges for growing loblolly pine in North Carolina, 
through one rotation, on different sites, with and without planting } 
GOOD SITE 
Interest on land and Miscellaneous annual 
Taxes with interest regeneration expenses with interest 
Type of regeneration 
Dollars Percent Dollars Percent Dollars Percent 
45 48 44 46 6 6 
Planting 2220 = es ee 
INaturaliee st eee eee 45 47 45 47 6 6 
MEDIUM SITE 
Plantings 22: = =: a eee 36 49 30 41 7 10 
INatoral Sse 34 48 30 42 7 10 
POOR SITE 
IPIAN ting = see aa ee 21 48 13 29 10 23 
Naturale 2-222 See ee 20 48 14 33 8 19 
1 Interest rate used, 3 percent. For financial rotations used, see table 111. Sources of data: Columns 
2, 4, and 6 refer to text describing tables 95 and 109; columns 3, 5, and 7 by computation. 
The comparison of gross incomes with expenses under the assumed 
conditions is given in table 113. 
TABLE 113.—Gross income compared with expense with and without taxes, for lob- 
lolly pine in North Carolina, through one rotation, on different sites, with and 
without planting } 
WITH TAXES 
Good site Medium site Poor site 
Type of regeneration a e a 
Toss TOSS TOSS 
meena Expense inGoniG Expense mean Expense 
IRIS tinge ees SS a eee $101 $57 $79 $49 $50 $37 
INS turales 8 222") ©. oso ee 96 51 71 41 41 28 
WITHOUT TAXES 
1 Interest rate used, 3 percent. For financial rotations used, see table 111. Sources of data: Columns 2, 
4, and 6 from table 94, interpolating when necessary to determine money yields or gross incomes for the 
financial rotations; columns 3, 5, and 7 by computation as explained in the test. 
JACK PINE IN THE LAKE STATES 
Table 114 shows the financial rotations and the initital forest 
values for jack pine on assumed sites in the Lake States, both with 
and without taxes. These results indicate that if it were not for 
taxes, the growing of this species would yield a return of better 
than 3 percent on all sites with natural regeneration and on good 
sites with planting as well, provided the land were obtainable at 
