PART II.—_ MANAGEMENT. 
INTRODUCTION. 
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Conditions are exceedingly favorable on the Cooper River holdings 
for the application of practical forestry. There is a good present 
stand of mature timber, and a ready market for it; an excellent young 
growth develops after lumbering, provided the cut-over lands are pro- 
tected against fire—a matter which is entirely practicable at a small 
expense; the cost of logging and transportation to the mill is very 
low; and the mill itself is thoroughly equipped and remarkably well 
situated to facilitate a large and varied output. 
The capital invested in mill, transportation system, and timber- 
lands is considerable; therefore a system of management which would 
insure the company a continuous yield of timber is highly desirable, 
provided such management would not seriously interfere with present 
profits. If it can be so arranged that, as soon as the company’s hold- 
ings are entirely cut over for the first time, the lands first lumbered 
will once more support a merchantable stand ready to be cut, such an 
arrangement is obviously a good business policy. If this can be done, 
the capital remains invested; if not, after the lands are cut over, 
returns cease, and, except for that part of the investment which can 
be disposed of, the capital account is wiped out. 
In the following pages it is shown that by the addition of certain 
amounts of land it is both practicable and profitable to carry on oper- 
ations on the basis of a sustained yield equal to the highest present 
capacity of the mill. 
PRESENT AND FUTURE YIELDS OF PINE. 
Table X XII shows the present average yield in board feet per acre 
of loblolly and longleaf pine combined, and the yield that may be 
expected after ten, twenty, thirty, forty, and fifty years, cutting to 
different diameter limits. The number of years that must elapse before 
a cut equal to the present may be again obtained is also shown. This 
table is constructed from an average of all acres of timber measured 
on the tract. 
Future yields are obtained by ascertaining how many trees of each 
diameter are left on the ground if a given diameter is cut to (see 
Tables I, Il, and I1]), and then finding by the use of Tables XI and 
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