FOREST MANAGEMENT OF LOBLOLLY PINE. 
25 
Table 23.— Net profits per acre and corresponding compound interest rates from loblolly 
pine, for different initial investments, rotations, and distances from market. 
Quality II —FOR TREES 5 INCHES AND OVER IN DIAMETER BREASTHIGH, LUMBER 
CUT AND SOLD UNGRADED. 
Net profit s and corresponding compound interest rate * on 
Initial investment. 
total initial investment at different distances from market 
Cost 2 of ad- 
ministration 
or shipping point. 
Rota- 
and taxes at 
1 mile. 
4 miles. 
8 miles. 
16 miles. 
tion. 
6 per cent 
compound 
Land. 
Forma- 
tion. 1 
Total. 
interest. 
Net 
profit. 
Inter- 
est 
rate. 
Net 
profit. 
Inter- 
est 
rate. 
Net 
profit. 
Inter- 
est 
rate. 
Net 
profit. 
Inter- 
est 
rate. 
Years. 
Per ct. 
Perct. 
Per ct. 
Per ct. 
f $0 
15 
1 
($24.49 
9.28 
$21. 25 
8.64 
$13.69 
6.82 
$2.29 
1.90 
3 
8 
I 21.49 
6.74 
18.25 
6.12 
10.69 
4.33 
$5 
1 5 
10 
\ $2.21 
1 19.49 
5.56 
16.25 
4.94 
8.69 
3.18 
20 
I 7 
12 
] 
I 17.49 
4.60 
14.25 
3.99 
6.69 
2.24 
\ ° 
10 
| 
f 23.39 
6.21 
20. 15 
5.67 
12.59 
4.16 
1.19 
.56 
. 10 
3 
1 5 
13 
15 
I 3.31 
J 20.39 
1 18.39 
4.83 
4.08 
17.15 
15.15 
4.30 
3.55 
9.59 
7.59 
2.80 
2.07 
I 7 
17 
1 
I 16.39 
3.43 
13.15 
2.91 
5.59 
1.43 
f o 
5 
1 
f 61.16 
8.99 
54.56 
8.61 
39.16 
7.53 
9.36 
3.58 
' 5 
3 
8 
I 4.74 
J 58.16 
7.30 
51. 56 
6.92 
36.16 
5.86 
6.36 
1.97 
1 5 
10 
1 56.16 
6.50 
49.56 
6.13 
34.16 
5.08 
4.36 
1.21 
30 
I 7 
12 
J 
I 54.16 
5.85 
47. 56 
5.49 
32.16 
4.44 
2.36 
.60 
f o 
10 
> 
f 58.78 
6.64 
52. 18 
6.28 
36.78 
5.28 
6.98 
1.78 
. io 
3 
13 
1 7.12 
1 55.78 
5.71 
49.18 
5.36 
33.78 
4.36 
3.98 
.89 
1 5 
15 
1 53.78 
5.21 
47.18 
4.85 
31.78 
3.86 
1.98 
.41 
I 7 
17 
) 
I 51.78 
4.77 
45.18 
4.42 
29.78 
3.43 
f o 
5 
] 
f 94.41 
7.76 
84.45 
7.48 
61.21 
6.67 
13.81 
3.37 
5 
J 3 
8 
[ 9.29 
J 91.41 
6.50 
81.45 
6.22 
58.21 
5.43 
10.81 
2.16 
1 5 
10 
1 89.41 
5.91 
79.45 
5.63 
56.21 
4.84 
8.81 
1.59 
40 
I 7 
12 
J 
I 87.41 
5.43 
77.45 
5.15 
54.21 
4.36 
6.81 
1.13 
[ o 
10 
| 
f 89.77 
5.92 
79.81 
5.64 
56.57 
4.85 
9.17 
1.64 
. io 
1 3 
13 
I 13.93 
1 86.77 
5.23 
76.81 
4.95 
53.57 
4.17 
6.17 
.98 
1 *■• 
15 
1 84.77 
4.85 
74.81 
4.58 
51.57 
3.80 
4.17 
.61 
I 7 
17 
) 
I 82.77 
4.52 
72 81 
4.25 
49.57 
3.47 
2.17 
.30 
f o 
5 
| 
f 129. 48 
6.81 
115.92 
6.58 
84.28 
5.93 
16.48 
2.96 
5 
3 
8 
I 17.42 
J 126. 48 
5.81 
112. 92 
5.58 
81.28 
4.94 
13.48 
2.00 
1 5 
10 
i 124. 48 
5.34 
110.92 
5.11 
79.28 
4.48 
11.48 
1.54 
50 
I 7 
12 
1 
1 122. 48 
4.95 
108.92 
4.73 
77.28 
4.10 
9.48 
1.17 
f o 
10 
| 
(120.77 
5.28 
107.21 
5.05 
75. 57 
4.39 
7.77 
1.17 
1 io 
3 
13 
\ 26. 13 
J 117. 77 
4.72 
104. 21 
4.50 
72.57 
4.08 
4.77 
.63 
1 5 
15 
1115.77 
4.43 
102.21 
4.20 
70.57 
3.54 
2.77 
.34 
I 7 
17 
1 
1113.77 
4.16 
100. 21 
3.94 
68.57 
3.29 
.77 
.09 
1 Cost of establishing a loblolly pine stand, either by natural or artificial reproduction. 
2 Three cents per acre annually for administration (including fire protection), and 6 mills on the dollar 
(full -valuation) annually for taxes, which is above present average tax for the region. 
3 Stumpage value as given in Table 14, less original cost of formation and total cost of administration and 
taxes. Where no net profit is shown, a loss is indicated. 
4 Calculated by formula p=100 
(V' 
S+L-A 
0- 
1 ) , where p= compound interest rate, «=number of years 
L + F 
or rotation, 5=stumpage A T alue at n years, i=cost of land, .F=cost of formation, and A=eost of adminis- 
tration and taxes in n years at 6 per cent compound interest. 
6242°— 14 4 
