The Grubbing up of Woods. 
355 
ciently furlilo to bo worth 20s. per acre for agricultural purposes, there the 
growth of wood is a loss to the owner. 
" The notion of woodlands being profitable, assumes that the annual growth 
of wood is equal to the interest of the capital stock plus the rent of the land. 
But I do not believe that a single instance can be shown of any oak wood, 
which produces 3 per cent, interest in perpetuity upon the capital stock, and so 
there is tlie loss of rent during the entire period of its growth. 
" I have the honour to be, &c. 
" Epperstone." " T. Huskinson. 
This account refers to a transaction as far back as the year 
1840. (^uite lately Mr. Huskinson has been professionally em- 
ployed to report upon a proposed operation of stubbing a wood, 
in support of the application of a life-tenant to the Land Im- 
provement Commissioners, I send an extract fiom this report, 
as nothing on this subject more clear and comprehensive can be ^ 
supplied. 
As to the improvements proposcil, I liave no hesitation in 
saying that they are desirable, and will be beneficial to the persons interested 
in the estate, whether as tenants for life or as reversioners. The wood in 
question, of 82a. 1r. Cp., though of ancient date, comprises very few large 
trees. It is thickly planted with oak, averaging about 80 trees per acre ; the 
size of each tree averaging about 7 feet. The trees are tolerably healthy in 
many parts of the wood ; but in some parts, owing to the wetness of the land, 
the growth is not very vigorous. The imderwood of ash and hazel is well 
planted, and produces a fair crop, of good quality, for which there is a con- 
siderable local demand. Upon the whole, the wood is in as good a condition, 
and as productive, as any woodland in the midland counties. I have stated 
the general returns from similar woodlands in this district to be 10s. per acre ; 
and I am of opinion that, with present prices of timber, the wood would not 
j)roduce a gi'eater nett income in perpetuity than 10s. per acre per annum. 
" For agricultural purposes the land possesses considerable value. The soil 
is a reddish loam mixed with marl, upon the red sandstone formation, of good 
natural fertilit}', and well adapted for the growth of all the root and cereal 
crops common to the district. The agricultural value of the land, when 
cleared of wood and drained, is 30s. per acre without buildings, and with 
suitable buildings upon it 36s. per acre. There are several farmsteads in the 
vicinity of the wood, with which the land might conveniently be occupied, 
and I do not think it would be desirable to erect buildings for the special 
occupation of this land. The advantages of converting the woodland into 
tillage will be fairly shown by the following detailed estimate. 
" I estimate the value of the stock of timber and underwood upon the land 
as follows : — 
(. 
Timber, 560 feet per acre, equal to 44,800 feet, at Is. per foot £2240 
Bark, 268 tons, at 5Z 1340 
Underwood, 80 acres, at 8Z. per acre 640 
Gross value 4220 
Deduct expenses of felling timber, peeling bark, and cutting 
underwood 1008 
Nett value to be received from timber £3212 
" The cost of the improvements proposed to be eflected under the powers of 
the Land Improvement Company, and which would be necessary to prepar 
