FOREST PLANTING IN THE LAKE STATES 
77 
Table 35. — Norway and northern white pine stumpage values per M board feet, 
80 years 
TO EARN 5 PER CENT 
Cost of 
planting 
plus land 
value 
per acre 
Site quality « 
Stumpage values per M, classified according 
to annual taxes in cents per acre plus 5 cents 
fire protection 
15 cents 
20 cents 
30 cents 
45 cents 
75 cents 
Good 
$11. 89 
16.65 
$13.28 
18.59 
$16. 06 
22.48 
37.46 
17.47 
$5.50 
$20. 22 
28.31 
47.18 
$28. 54 
Medium.. . . ... 
39.96 
Poor 
27.75 
13.31 
18.63 
30.99 
14.70 
66.60 
6.50 
Good 
21.63 
30.29 
50.48 
29.96 
Medium. ... .. 
20.58 
34.29 
16.11 
24.46 
40.77 
18.89 
41.94 
Poor . .. 
31.05 
14.73 
69.90 
7.50 
Good 
23.05 
32.27 
53.78 
31.38 
Medium _ . 
20.62 
34.36 
16.14 
22.56 
37.60 
17.53 
26.44 
44.07 
43.93 
Poor 
73.21 
8.50 
Good 

W 20.30 
28.43 
47.38 
24.47 
34.25 
57.09 
32.79 
Medium 
22.60 
37.66 
18.27 
24.54 
40.90 
19.65 
45.91 
Poor 
76.51 
10.00 
Good 
22.43 
31.40 
52.33 
25.26 
35.36 
58.94 
29.51 
41.31 
68.85 
36.59 
51.22 
85.37 
43.67 
61.14 
101. 89 
26.59 
37.23 
62.04 
29.42 
41.19 
68.65 
33.67 
47.14 
78.56 
40.75 
57.05 
95.09 
47.83 
66.96 
111.61 
34.92 
Medium.. . 
25.57 
42.62 
21.10 
29.54 
49.23 
25.35 
35.48 
59.14 
32.43 
45.40 
75.66 
39.51 
55.31 
92.18 
27.51 
45.86 
22.49 
31.48 
52.47 
26.73 
37.43 
62.38 
33.81 
47.34 
78.90 
40.89 
57.25 
95.42 
48.88 
Poor . . 
81 47 
12.00 
Good. 
37.75 
Medium 
52.85 
Poor _ -.- _ .__ 
88.08 
15.00 
Good. 
42.00 
58.79 
Poor - .. 
97.99 
20.00 
Good- 
49.08 
Medium . ._ 
68.71 
Poor - 
114. 51 
25.00 
Good 
56.16 
Medium . _______ 
78.62 
Poor .- .- _ --. -. _. . 
131.03 
i Good sites should yield 35,000 board feet, and medium sites 25 000 board feet at 80 years. 
If $20 a thousand board feet is conservatively estimated as the probable maximum stumpage value for 
Norway and northern white pine saw timber at 80 years, the figures less than $20 (those above the heavy 
line) indicate that it will earn 5 per cent compound interest in general where taxes are less than 25 cents 
an acre, where the combined cost of planting and land value does not exceed $10, and where the site is good 
or medium. Even with taxes, planting cost, and land value at a minimum and high yields on good sites, 
Norway and northern white pine stumpage values of $20 in 80 years will not earn 6 per cent compound 
interest. 
