﻿44 
  WORKING 
  PLAN 
  FOR 
  FOREST 
  LANDS 
  NEAR 
  PINE 
  BLUFF, 
  ARK. 
  

  

  Table 
  No. 
  15. 
  — 
  Annual 
  interest 
  represented 
  by 
  future 
  cuts 
  on 
  the 
  capital 
  invested 
  in 
  cut- 
  

   over 
  lands. 
  

  

  STUMPAGE 
  VALUE, 
  $1.50 
  PER 
  THOUSAND 
  BOARD 
  FEET. 
  

  

  Cutting 
  

   limit, 
  

   diam- 
  

   eter 
  

   breast- 
  

   high. 
  

  

  After 
  20 
  years. 
  

  

  After 
  30 
  years. 
  

  

  After 
  40 
  years. 
  

  

  When 
  equal 
  cut 
  

   occurs. 
  

  

  Equal 
  

   again 
  

  

  $1 
  per 
  

   acre. 
  

  

  $1.50 
  per 
  

   acre. 
  

  

  $1 
  per 
  

   acre. 
  

  

  $1.50 
  per 
  

   acre. 
  

  

  $1 
  per 
  

   acre. 
  

  

  $1.50 
  per 
  

   acre. 
  

  

  $1 
  per 
  

   acre. 
  

  

  $1.50 
  per 
  

   acre. 
  

  

  ob- 
  

   tained. 
  

  

  Incite*. 
  

  

  Per 
  cent. 
  

  

  Per 
  cent. 
  

  

  Per 
  cent. 
  

  

  Per 
  cent. 
  

  

  Per 
  cent. 
  

  

  Per 
  cent. 
  

  

  Per 
  cent. 
  

  

  Per 
  cent. 
  

  

  Yean. 
  

  

  12 
  

  

  3.9 
  

  

  3.1 
  

  

  4.9 
  

  

  4.1 
  

  

  6.6 
  

  

  5.6 
  

  

  7.0 
  

  

  6.0 
  

  

  42 
  

  

  14 
  

  

  3.6 
  

  

  2.9 
  

  

  4.8 
  

  

  4.0 
  

  

  6.6 
  

  

  5. 
  7 
  

  

  7.0 
  

  

  6.0 
  

  

  41 
  

  

  16 
  

  

  4.6 
  

  

  3.7 
  

  

  5.4 
  

  

  4.5 
  

  

  6. 
  5 
  

  

  5.6 
  

  

  6.7 
  

  

  5.8 
  

  

  41 
  

  

  18 
  

  

  4.9 
  

  

  3.9 
  

  

  5.2 
  

  

  4. 
  4 
  

  

  5.8 
  

  

  5.0 
  

  

  5.9 
  

  

  5.1 
  

  

  42 
  

  

  20 
  

  

  5.2 
  

  

  4.1 
  

  

  4.7 
  

  

  3.9 
  

  

  5.2 
  

  

  4.5 
  

  

  5.3 
  

  

  4.5 
  

  

  42 
  

  

  STUMPAGE 
  VALUE, 
  82 
  PER 
  THOUSAND 
  BOARD 
  FEET. 
  

  

  12 
  

  

  5.2 
  

  

  4.2 
  

  

  6.6 
  

  

  5 
  5 
  

  

  8.8 
  

  

  7. 
  5 
  

  

  9.3 
  

  

  8.0 
  

  

  42 
  

  

  14 
  

  

  4.8 
  

  

  3.8 
  

  

  6.4 
  

  

  5.4 
  

  

  8.S 
  

  

  7.5 
  

  

  9.3 
  

  

  8.0 
  

  

  41 
  

  

  16 
  

  

  6.1 
  

  

  4.9 
  

  

  7.1 
  

  

  6. 
  

  

  8.7 
  

  

  7.4 
  

  

  9.0 
  

  

  

  41 
  

  

  18 
  

  

  6.5 
  

  

  5.2 
  

  

  7.0 
  

  

  5.8 
  

  

  7.8 
  

  

  6.7 
  

  

  7.9 
  

  

  6.8 
  

  

  42 
  

  

  20 
  

  

  6.9 
  

  

  5.5 
  

  

  6,2 
  

  

  5.2 
  

  

  7.0 
  

  

  6.0 
  

  

  7.0 
  

  

  6.0 
  

  

  42 
  

  

  CONCLUSIONS. 
  

  

  The 
  study 
  made 
  by 
  the 
  Bureau 
  of 
  Forestry 
  establishes 
  the 
  fact 
  that 
  

   the 
  application 
  of 
  practical 
  forestry 
  to 
  the 
  tract 
  of 
  the 
  Sawyer 
  & 
  Austin 
  

   Lumber 
  Company 
  would 
  be 
  a 
  sound 
  business 
  measure. 
  It 
  shows 
  

   furthermore 
  that 
  in 
  the 
  cheapness 
  of 
  logging, 
  the 
  value 
  of 
  the 
  prod- 
  

   uct, 
  the 
  quick 
  growth 
  and 
  the 
  ready 
  reproduction 
  of 
  the 
  timber 
  trees, 
  

   and 
  the 
  practicability 
  of 
  inexpensive 
  and 
  effective 
  measures 
  against 
  

   fire, 
  the 
  opportunity 
  is 
  a 
  markedly 
  favorable 
  one. 
  

  

  The 
  yield 
  to 
  be 
  expected 
  from 
  cut-over 
  lands 
  shows 
  a 
  high 
  return 
  

   from 
  the 
  capital 
  invested 
  in 
  them. 
  Cutting 
  to 
  the 
  advised 
  diameter 
  

   limit 
  of 
  12 
  inches 
  breasthigh, 
  or 
  about 
  14 
  inches 
  on 
  the 
  stump, 
  with 
  

   stumpage 
  reckoned 
  at 
  $2 
  per 
  1,000 
  board 
  feet, 
  and 
  the 
  value 
  of 
  cut- 
  

   over 
  land 
  at 
  $1 
  per 
  acre, 
  the 
  average 
  annual 
  interest 
  represented 
  by 
  

   the 
  future 
  crop 
  on 
  cut-over 
  lands 
  is, 
  for 
  a 
  period 
  of 
  forty 
  years, 
  nearly 
  

   9 
  per 
  cent. 
  In 
  other 
  words, 
  after 
  the 
  Sawyer 
  & 
  Austin 
  Lumber 
  Com- 
  

   pany 
  have 
  lumbered 
  their 
  present 
  tract 
  at 
  the 
  rate 
  of 
  14,500,000 
  feet 
  

   per 
  year, 
  the 
  lands 
  which 
  have 
  been 
  cut 
  over 
  will 
  be 
  producing 
  timber 
  

   which, 
  at 
  a 
  conservative 
  estimate, 
  represents 
  an 
  income 
  of 
  8.S 
  per 
  

   cent 
  on 
  the 
  capital 
  invested 
  in 
  them. 
  

  

  It 
  has 
  been 
  shown 
  that, 
  in 
  order 
  to 
  assure 
  a 
  sustained 
  annual 
  yield 
  

   equal 
  to 
  the 
  capacity 
  of 
  the 
  mill, 
  the 
  addition 
  of 
  170,000 
  acres 
  to 
  the 
  

   present 
  tract 
  is 
  necessary. 
  With 
  this 
  addition, 
  or 
  its 
  equivalent 
  in 
  

   stumpage, 
  the 
  Sawyer 
  & 
  Austin 
  Lumber 
  Company 
  can 
  cut 
  continuously 
  

   40,000,000 
  board 
  feet 
  per 
  year. 
  If 
  this 
  addition 
  is 
  not 
  made, 
  it 
  is 
  

   clearly 
  unadvisable 
  for 
  the 
  company 
  to 
  lumber 
  its 
  tract 
  upon 
  the 
  

   principle 
  of 
  a 
  .sustained 
  annual 
  yield, 
  since 
  this 
  would 
  fall 
  short 
  by 
  

   about 
  25,500,000 
  board 
  feet 
  of 
  the 
  annual 
  capacity 
  of 
  its 
  mill. 
  

  

  