WHITE PINE UNDER FOREST MANAGEMENT. 
33 
Table 14. — Rate of interest on the total investment earned by second-growth stands under 
different conditions. 1 
Amount 
hauled 
daily per 
team. 
Cost 
of forma- 
tion. 
Quality I. 
Quality II. 
Quality III. 
Most 
profitable 
rotation. 
Interest 
rate. 
Most 
profitable 
rotation. 
Interest 
rate. 
Most 
profitable 
rotation. 
Interest 
rate. 
Board ft. 
1,000 
2,000 
3,000 
4,000 
Years. 
40 
40 
40 
40 
40 
40 
35 
35 
40 
40 
40 
40 
35 
35 
40 
40 
40 
40 
35 
35 
40 
40 
40 
40 
Per cent. 
7.7 
6.7 
5.9 
5.3 
4.9 
4.5 
9.1 
7.8 
7.1 
6.5 
6.0 
5.6 
9.0 
8.2 
7.4 
6.8 
6.3 
5.9 
10.0 
8.3 
7.5 
6.9 
6.5 
6.1 
Years. 
40 
45 
45 
45 
45 
45 
40 
40 
40 
40 
45 
45 
40 
40 
40 
40 
45 
45 
40 
40 
40 
40 
40 
45 
Per cent 
6.6 
5.7 
5.0 
4.5 
4.1 
3.8 
7.8 
6.8 
6.1 
5.6 
5.1 
4.8 
8.2 
7.2 
6.4 
5.8 
5.4 
5.0 
8.3 
7.3 
6.6 
6.0 
5.5 
5.1 
Years. 
50 
50 
50 
50 
55 
55 
45 
45 
45 
50 
50 
50 
45 
45 
45 
45 
45 
50 
45 
45 
45 
45 
45 
50 
Per cent. 
5.3 
4.5 
3.9 
3.5 
3.0 
2.7 
6.4 
5.5 
4.9 
4.4 
4.0 
3.7 
6.7 
5.8 
5.2 
4.7 
4.3 
4.0 
6.8 
5.9 
5.3 
4.9 
4.4 
4.1 
$3.00 
6.00 
9.00 
12.00 
15.00 
3.00 
6.00 
9.00 
12.00 
15.00 
3.00 
6.00 
9.00 
12.00 
15.00 
3.00 
6.00 
9.00 
12.00 
15.00 
1 Based on the stumpage and cost data given in preceding tables. The interest rates were determined 
graphically by curving the profits and losses found by computing the initial and annual expenses at several 
fixed rates of interest. This method, devised by Mr. W. B. Barrows, is described in thie Proceedings of 
the Society of American Foresters, vol. 8, No. 3, p. 362. 
Table 15. — Profit and loss per acre from raising white pine under different conditions, 
showing ages between which stand could be cut with profit, the most profitable age, and 
the maximum profit, as a 4 per cent investment. 
Daily 
hauling 
capacity 
for one 
team. 
Cost 
of 
forma- 
tion. 
Quality I. 
Quality II. 
Quality III. 
Profit- 
able 
ages 
for 
cut- 
ting. 
Most 
profit- 
able 
rota- 
tion. 
Profit 
or loss. 
Profit- 
able 
ages 
for 
cut- 
ting. 
Most 
profit- 
able 
rota- 
tion. 
Profit 
or loss. 
Profit- 
able 
ages 
for 
cut- 
ting. 
Most 
profit- 
able 
rota- 
tion. 
Profit 
or loss. 
Bd.ft. 
1,000 
2,000 
3,000 
4,000 
"'$3.' 66" 
6.00 
9.00 
12.00 
15.00 
""3." 66' 
6.00 
9.00 
12.00 
15.00 
"""3." 66" 
6.00 
9.00 
12.00 
15.00 
"3.'66" 
6.00 
9.00 
12. 00 
15.00 
Years. 
30-* 
30-65 
35-60 
35-60 
35-55 
40-50 
20-* 
25-* 
25-65 
30-65 
30-60 
30-60 
20-* 
25-* 
25-65 
30-65 
30-60 
30-60 
20-* 
25-* 
25-65 
25-65 
30-60 
30-60 
Years. 
50 
50 
50 
45 
45 
45 
50 
50 
50 
50 
50 
45 
50 
50 
50 
50 
50 
45 
50 
50 
50 
50 
50 
45 
$127. 67 
106. 35 
85.03 
64.97 
47.44 
29.92 
216.11 
194. 79 
173. 47 
152. 15 
130. 83 
113.17 
245. 38 
224. 06 
202. 74 
181.42 
160. 10 
140. 74 
260. 22 
238. 90 
217. 58 
196. 26 
174. 94 
154. 74 
Years. 
35-* 
35-65 
40-60 
40-55 
45 
' '36^* 
30-* 
35-65 
35-60 
35-60 
40-55 
25-* 
30-* 
30-65 
35-65 
35-60 
35-60 
25-* 
30-* 
30-65 
35-65 
35-60 
35-60 
Years. 
55 
50 
50 
45 
45 
45 
50 
50 
50 
50 
50 
50 
55 
50 
50 
50 
50 
45 
55 
50 
50 
50 
50 
45 
$84.25 
62.86 
41.54 
23.31 
5.78 
-11.74 
153. 01 
131. 69 
110.37 
89. 05 
67.73 
46.41 
177. 45 
154. 51 
133. 19 
111.87 
90.55 
72.11 
189. 25 
166. 10 
144.78 
123. 46 
102. 14 
82.70 
Years. 
40-65 
45-60 
"*35^*"" 
40-65 
40-60 
45-55 
50 
"35-*" 
35-* 
40-65 
40-60 
45-55 
"'36-*'" 
35-* 
40-65 
40-60 
45-55 
45-50 
Years. 
55 
50 
50 
45 
45 
45 
55 
55 
50 
50 
50 
45 
55 
55 
55 
50 
50 
50 
55 
55 
55 
50 
50 
50 
$42.86 
18.86 
- 2.46 
-24. 61 
-42. 14 
-59. 66 
95.98 
70.04 
45.91 
24.59 
3.27 
-18. 22 
113. 41 
87.47 
61.77 
40.45 
19.13 
- 2.19 
122. 31 
96.37 
70.43 
48.55 
27. 23 
5.91 
Note.— The stars indicate an age of over 70 years. The computation was not extended to stands over 
70 years old, although under certain conditions a rotation of more than 70 years could undoubtedly be 
employed with profit 
6738°— Bull. 13—14 3 
