6 
pounded. If the stumpage values are $10 for saw timber and $2.50 
for cordwood the return per acre would amount to $655.45, or nearly 
8 per cent on the same investment. 
A grove in Alameda County shows a yield of 54,200 board feet of 
timber and 43.3 standard cords (57.8 California cords) per acre in 
25 years. Assuming a stumpage rate of $5 per thousand for the 
timber and $2.50 per standard cord for the wood, the return from 
this grove would be $379.25 per acre for the 25-year period,’ the 
cost of land, planting, etc., being figured as before. This would net 
about 8 per cent compounded. If the stumpage price is $10 per 
thousand for saw timber and $2.50 per cord for the limb wood, the 
return per acre would amount to $650.25, a little over 10 per cent on 
the investment. 
The stumpage figures used are mere assumptions. It is probable 
that but a small part of the timber produced in any of these groves 
could be sold for lumber at the present time. Most of the trees are 
between 10 and 12 inches in diameter at 44 feet from the ground. 
There is as yet but little demand for eucalyptus of such small dimen- 
sions for manufacture into lumber. 
Of California eucalyptus as lumber little is known. Up to the 
present time but small quantities have been manufactured. A few 
well-developed old trees, which have grown in the open and are . 
unusually large, are sold for high prices. No sales of entire groves 
for lumber have been made, however, since most of the trees are still 
too small or too crooked and limby to be sawed at a profit. In 
Australia no eucalyptus goes into the sawmill from trees less than 
30 years old or 2 feet in diameter, since lumber from young trees 
warps and shrinks badly, resulting in great waste.® 
In every young grove, however, a number of trees have outstripped 
their neighbors in form and size. In the management of a plantation 
it will probably be found profitable to cut the less desirable trees 
for cordwood at the end of about 10 years, leaving from 150 to 200 
of the best trees on each acre to grow to saw-timber size, at 30 or 
40 years. In that form they should bring a larger return per unit of 
volume than as cordwood. Moreover, as the problem of seasoning 
small California-grown eucalyptus is worked out, and as manufac- 
turers become more familiar with the handling of this wood, a 
demand for it will arise and doubtless lead to the establishment of 
more definite stumpage values. Investigations by the Forest Service 
to determine the best method of seasoning blue gum by kiln drying 
were completed and will soon be published. 
1See footnote on p. 5. The costs for land and for establishment and care of the 
plantation are the same as before, but the present value of taxes and fire protection is 
$7.15 on account of the longer period. 
2See footnote on p. 5. In this case the present value of taxes and fire protection 
amounts to $6.25. 
® Forest Service Circular 179, p. 28. 
