FOREST MANAGEMENT OF LOBLOLLY PINE. 27 
ment of $5 for the laud. If the land costs $10 there would be 8.04 
per cent compound interest realized on the initial investment. These 
represent the most favorable conditions. Under similar conditions 
on Quality III land (see Table 24), on the other hand, in 30 years 
there will be a compound interest of only 6.22 per cent on $5 land 
and of 4.07 per cent on $10 land; while at 8 miles from the railroad 
under similar conditions the compound interest rate possible to 
realize would be 4.46 and 2.53 per cent, respectively, on $5 and $10 
land. 
Loblolly pine occurs almost entirely on land that is potentially 
agricultural. This includes large areas of poorly drained land which 
at considerable expense can be converted into good agricultural sites, 
and land formerly under cultivation but worn out and abandoned. 
For several generations it will probably pay best to continue to grow 
crops of timber, at comparatively little expense, on large areas of 
this land, arid to practice intensive agriculture, requiring large out- 
lays of money, on limited areas best adapted to crops. A properly 
managed woodlot will always be a necessity to the well-equipped 
farm, even if the only land available for this purpose is potentially 
agricultural. 
In the management of forest types in which loblolly pine occurs it is 
generally advisable to favor it in the reproduction of a new stand to 
the exclusion of most of the species associated with it. It is preferable 
to other pines (shortleaf, pitch, and scrub) because its growth is 
more rapid, it produces cleaner timber and more seed, and on moist 
to wet soils, or on light dry soils with an open seed bed, it reproduces 
better. It is preferable to reproduce to pine rather than to hard- 
woods, with the exception of yellow poplar, because pine will reach 
maturity and command a good stumpage price at an -earlier age, 
especially on the poorer soils. On heavy and dry upland soils, 
where loblolly is comparatively scarce, it is best to favor shortleaf 
pine, as it is better adapted than loblolly to such sites. By using the 
method for securing loblolly pine reproduction described in this bulletin 
it will be possible to secure pure stands of the species, or at least 
make it the preponderating species in a future stand. A limited 
admixture of other species of pine and hardwoods of the same age 
will never handicap the rapid-growing loblolly, and it will not usually 
be advisable to go to any considerable expense in order to exclude 
them entirely. 
NORMAL STANDS AND ROTATION. 
In forest management of loblolly pine the aim should be to secure 
(preferably by natural reproduction, which is less expensive) pure, 
fully-stocked (uniformly dense), and even-aged stands of the species. 
These are technically known as normal stands, and produce the 
