70 
BULLETIN" 14 9 7, U. S. DEPARTMENT OF AGRICULTURE 
Table 11. — Norway and northern white pine stumpage values per M board feet, 
50 years, good sites, 10,000 board feet to the acre — Continued 
TO EARN 4 PER CENT 
Cost of 
planting 
plus 
land 
value 
per acre 
Stumpage values per M, classified according to 
annual taxes in cents per acre, plus 5-cent fire 
protection 
15 cents 
20 cents 
30 cents 
45 cents 
75 cents 
$5. 50 
6.50 
7.50 
8.50 
10.00 
12.00 
15.00 
20.00 
25.00 
$6.00 
6.71 
7.42 
8.13 
9.20 
10.62 
12.75 
$6.76 
7.47 
8.18 
8.89 
9.96 
11.38 
13.51 
$8.29 
9.00 
9.71 
10.42 
11.49 
12.91 
15.04 
IS. 59 
22.15 
$10. 58 
11.29 
12.00 
12.71 
13.78 
$15. 16 
15.87 
16.58 
17.29 
18.36 
19.78 
21.91 
25.46 
29. 02 
15.20 
17.33 
20.88 
24.44 
16.30 
19..86 
17.07 
20.62 
TO EARN 5 PER CENT 
$5.50 
6.50 
7.50 
8.50 
10.00 
12.00 
15.00 
20.00 
25.00 
$9.25 
10.39 
11.54 
12.69 
14.41 
$10. 29 
11.44 
12.59 
....-IjLZL- 
15.45 
17.75 
21.19 
26.92 
32.66 
$12. 39 
13.53 
14.68 
15.83 
17.55 
19.84 
23. 28 
29.02 
34.75 
1 
$15. 53 
16.67 
17.82 
18.97 
20.69 
22.98 
26.42 
32.16 
37.89 
$21. 81 
22.95 
24.10 
25.25 
26.97 
29.26 
32.70 
38.44 
44.17 
16.70 
20.14 
25.88 
31.61 
TO EARN 6 PER CENT 
$5.50 
6.50 
$14. 29 
$15. 74 
17.58 
$18.64 
20.48 
$23. 00 
24.84 
$31.71 
33.55 
16.13 
7.50 
17.97 
19.42 
22.33 
26.68 
35.39 
8.50 
19.81 
21.26 
24.17 
28.52 
37.23 
10.00 
22.58 
24.03 
26.93 
31.29 
40.00 
12.00 
26.26 
27.71 
30.61 
34.97 
43.68 
15.00 
31.79 
33.24 
36.14 
40.50 
49.21 
20.00 
41.00 
42.45 
45.35 
49.71 
58.42 
25.00 
50.21 
51.66 
54.56 
58.92 
67.63 
If $15 is conservatively estimated as the probable stumpage value of Norway and northern white pine 
saw timber in 50 years, the figures below $15 (those above the heavy line) indicate that on good sites 
where they will produce 10,000 board feet per acre in 50 years, they will earn 3 per cent compound interest, 
where taxes do not exceed 70 cents an acre and where the combined cost of planting and land value is not 
over $25; 4 per cent in general where taxes are not over 40 cents and the combined cost of planting and land 
value is not over $15; 5 per cent in general where taxes are less than 25 cents an acre and where the com- 
bined cost of planting and land value is not over $10; and 6 per cent where taxes do not exceed 10 cents and 
where the cost of planting and land value is not over $5.50. 
