WHITE PINE UNDER FOEEST MANAGEMENT. 
29 
Table 11. — Stumpage values per thousand board feet and per acre of second-growth white- 
pine stands of average yield/ 
Age. 
Quality. 
Stumpage value, with hauling capacity, per team, of— 
1 M per day. 
2 M per day. 
3 M per day. 
4 M per day. 
PerM. 
Per acre. 
PerM. 
Per acre. 
PerM. 
Per acre. 
PerM. 
Per acre. 
Years. 
20 
25 
30 
35 
40 
45 
50 
55 
60 
'65 
70 
fl 
$2.32 
$10.50 
S3. 15 
$14.00 
$3.57 
$16.00 
II 
llll 
in 
SI. 18 
$10.00 
3.68 
2.32 
31.00 
12.50 
4.51 
3.15 
38.00 
17.00 
4.93 
3.57 
4L50 
19.50 
{in 
i 
n 
in 
2.73 
1.18 
38.00 
11.50 
5.23 
3.68 
2.32 
6.23 
5.23 
3.68 
6.68 
6.23 
5.23 
6.86 
6.68 
6.23 
7.05 
6.86 
6.68 
7.14 
7.05 
6.86 
7.23 
7.14 
7.05 
7.32 
7.23 
7.14 
7.41 
7.32 
7.23 
72.50 
35.50 
12.50 
140.00 
83.00 
34.00 
219.00 
146. 50 
74.00 
287.00 
204. 50 
119.50 
346.00 
251.00 
161.00 
392. 50 
296.00 
199.00 
435.00 
334. 50 
236.50 
476. 50 
373.00 
272.00 
521. 50 
410. 50 
305. 50 
6.06 
4.51 
3.15 
7.06 
6.06 
4.51 
7.51 
7.06 
6.06 
7.69 
7.51 
7.06 
7.88 
7.69 
7.51 
7.97 
7.88 
7.69 
8.06 
7.97 
7.88 
8.15 
8.06 
7.97 
8.24 
8.15 
8.06 
84.00 
43.50 
16.50 
159.00 
96.50 
42.00 
246. 50 
166.00 
86.00 
321. 50 
230.00 
135. 50 
386. 50 
281. 50 
181.00 
438.00 
331.00 
223.00 
485.00 
373. 50 
264. 50 
530. 50 
416.00 
303. 50 
579. 50 
457.00 
341.00 
6.48 
4.93 
3.57 
7.48 
6.48 
4.93 
7.93 
7.48 
6.48 
8.11 
7.93 
7.48 
8.30 
8.11 
7.93 
8.39 
8.30 
8.11 
8.48 
8.39 
8.30 
8.57 
8.48 
8.39 
8.66 
8.57 
8.48 
90.00 
47.50 
19.00 
168.00 
103.00 
46.00 
260.00 
175. 50 
92.00 
339.00 
242. 50 
143. 50 
407. 50 
297.00 
191.00 
461.00 
348. 50 
235.50 
510. 50 
393. 50 
278. 50 
558.00 
437. 50 
319.50 
609.00 
480. 50 
k-::::: 
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llll 
3.73 
2.73 
1.18 
4.18 
3.73 
2.73 
4.36 
4.18 
3.73 
4.55 
4.36 
4.18 
4.64 
4.55 
4.36 
4.73 
4.64 
4.55 
4.82 
4.73 
4.64 
4.91 
4.82 
4.73 
84.00 
43.50 
11.00 
137.00 
87.50 
38.50 
182. 50 
128.00 
71.50 
223.00 
159. 50 
101.00 
255.00 
191.00 
126. 50 
284. 50 
217. 50 
152. 50 
313.50 
244.00 
176. 50 
347.00 
270. 50 
200.00 
\ 
1 Based on yields, values, and costs given in preceding tables. The values per acre are rounded off to 
the nearest 50. 
COST OF RAISING STANDS. 
The costs in connection with raising white pine may be classed as 
initial and annual expenses. The former include the costs of forma- 
tion (planting, sowing, and natural reproduction) at compound 
interest to the end of the rotation, together with interest on the 
initial value of the land. The latter include taxes on land and timber, 
and annual costs of protection and administration, both chargeable 
as annuities at a specific interest rate. Since the land remains an 
asset w T hen the timber is cut, only the interest on it need be figured as 
an actual outlay. 
Value of the Land. 
One of the chief arguments in favor of timber raising is that it 
presents a means of profitably utilizing waste lands. Wherever a 
greater income can be secured by some other use of the soil, timber 
growing can not be considered financially warranted. The ordinary 
situations in which it can be carried on with financial success include 
