Nee ee ARTMENT GRICULTURE. 
46 BULLETIN 24, U. S. DEPARTMENT OF AGRICULTURE 
Where the stand is to be established wholly by planting the costs 
will be: : 
Preparation of the sroumi:c2 - 24: ea orper mye taeal s $2. 50 
Gost of stoek-(S by 78: feet) 22 = —* rae ss ee eee 1. 00 
Cost: Ob wlanting = 206 aS ee ee ene ee fg ee 2. 50 
Filling: in planks. 2 oes. 2S 0 be ee ee ee 1. 00 
Total’ S225 52 Stee sat Sele SEA ee Ses EE eee 7. 00 
The cost of the land will vary widely under different conditions, 
but at present $5 per acre will be the average price of unprotected 
land unsuitable for farming. Such lands are usually valued for 
taxation purposes at only $1 to $3, and are seldom taxed more than 
two cents on the dollar. Some allowance for increased taxes in the 
future should, however, be made. The present land valuation for 
tax purposes is therefore placed at $3, and an increase of $1 per acre 
allowed for each succeeding decade. 
Tt is a fair assumption that a stand established by natural repro- 
duction, supplemented by planting one-third of the area, will yield 
at least three-fourths as much as the fully stocked stands shown in 
Table 3. On the basis of these figures such a stand would, if the 
stumpage is worth $5 per thousand board feet, return 7 per cent on 
the investment, with a rotation of about 35 years. 
A planted stand, fully stocked, even though the cost of establishing 
it may be higher than in the case of a stand secured by natural repro- 
- duction, should return about 7.3 per cent, because of its greater yield 
per acre. 
While on the whole at least 6 or 7 per cent can be expected from 
growing cottonwood, the profitableness of the undertaking must be 
determined for each particular case by a careful study of local condi- 
tions. 
CORDWOOD. 
The present low stumpage value of cordwood makes it a question- 
able policy to sacrifice thrifty young cottonwood brakes for this 
use. Such stands, if established in the same manner and at the same 
cost as described for saw timber, will show a return of scarcely 6 
per cent. This requires a fully stocked stand over the entire area, 
which can scarcely be secured except by planting. With only three- 
fourths of a normal yield per acre, as figured for saw timber, the 
investment would not net more than 4 per cent. If natural reproduc- 
tion, supplemented by planting, would result in a fully stocked 
stand, the returns may be increased to 5 per cent. 
To make the growing of cottonwood for pulp as profitable as for 
saw timber, the stumpage must bring from 80 to 90 cents per cord. 
