24 
BULLETIN 11, U. S. DEPARTMENT OF AGRICULTURE. 
Table 22. — Net profits per acre and corresponding compound interest rates from loblolly 
pine, for different initial investments, rotations, and distances from market. 
QrALlTT I.— FOR TREES 5 INCHES AND OVER IN DIAMETER BREASTHIGH, LUMBER 
CUT AND SOLD UNGRADED. 
Net profit 3 and corresponding compound interest rate * on 
Initial investmei 
total initial investment at different dist ances from market 
Cost 2 of ad- 
or shipping point. 
ministration 
Rota- 
tion. 
and taxes at 
6 per cent 
1 mile. 
4 miles. 
8 miles. 
16 miles. 
compound 
interest. 
Land. 
Forma- 
tion. 1 
Total. 
Net 
profit. 
Inter- 
est 
rate. 
Net 
profit. 
Inter- 
est 
rate. 
Net 
profit. 
Inter- 
est 
rate. 
Net 
profit. 
Inter- 
est 
rate. 
Years. 
Perct. 
Per ct. 
Perct. 
Perct. 
f $0 
$5 
| 
($40. 89 
11.72 
$35. 91 
11.08 
$24. 29 
9.24 
$5. 59 
3.82 
' $5 
3 
8 
\ $2. 21 
J 37. 89 
9.13 
32.91 
8.50 
21.29 
6.70 
2.59 
1.41 
5 
10 
i 35.89 
7.92 
30.91 
7.30 
19.29 
5.52 
.59 
.29 
7 
12 
J 
I 33.89 
6.94 
28.91 
6.32 
17.29 
4.56 
20 
f ° 
10 
1 
f 39. 79 
8.36 
34.81 
7.79 
23. 19 
6.18 
4.49 
1.87 
. io 
1 3 
13 
I 3.31 
36.79 
6.94 
31.81 
6.38 
20.19 
4.80 
1.49 
.54 
5 
15 
' 34.79 
6.18 
29.81 
5.62 
18.19 
4.05 
I 7 
17 
J 
, 32.79 
5.52 
27.81 
4.97 
16.19 
3.40 
( o 
5 
| 
f 94.06 
10.47 
84.52 
10.09 
62.26 
9.05 
17.16 
5.09 
5 
1 3 
8 
\ 4.74 
J 91.06 
8.74 
81.52 
8.38 
59.26 
7.36 
14.16 
3.45 
5 
10 
1 89.06 
7.94 
79.52 
7.58 
57.26 
6.56 
12.16 
2.69 
30 
I 7 
12 
1 
I 87.06 
7.29 
77.52 
6.93 
55.26 
5.91 
10.16 
2.07 
{ o 
10 
| 
f 91.68 
8.04 
82.14 
7.68 
59.88 
6.70 
14.78 
3.07 
10 
3 
13 
[ 7.12 
J 88.68 
7.10 
79.14 
6.75 
56.88 
5.77 
11.78 
2.17 
5 
15 
1 86.68 
6.59 
77.14 
6.24 
54.88 
5.26 
9.78 
1.69 
I 7 
17 
J 
I 84.68 
6.14 
75.14 
5.79 
52.88 
4.83 
7.78 
1.26 
f o 
5 
| 
(145. 41 
8.88 
131. 13 
8.61 
97.81 
7.85 
26.41 
4.70 
1 3 
8 
[ 9.29 
1142.41 
7.61 
128. 13 
7.34 
94.81 
6.59 
23.41 
3.48 

1 ^ 
10 
1140.41 
7.01 
126. 13 
6.75 
92.81 
6.00 
.21.41 
2.90 
40 
I 7 
12 
J 
I 138. 41 
6.52 
124. 13 
6.26 
90.81 
5.52 
19.41 
2.44 
f o 
10 
] 
f 140. 77 
7.02 
126. 49 
6.75 
93.17 
6.01 
21.77 
2.93 
10 
1 3 
13 
\ 13. 93 
137.77 
6.32 
123. 49 
6.05 
90.17 
5.31 
18.77 
2.26 
1 ^ 
15 
1135.77 
5.94 
121. 49 
5.68 
88.17 
4.94 
16.77 
1.89 
I 7 
17 
J 
I 133. 77 
5.61 
119. 49 
5.35 
86.17 
4.61 
14.77 
1.58 
f o 
5 
| 
f 194. 48 
7.65 
174.92 
7.42 
129. 28 
6.80 
31.48 
4.06 
1 3 
8 
I 17.42 
J 191. 48 
6.64 
171.92 
6.42 
126. 28 
5.80 
28.48 
3.08 
5 
1 ^ 
10 
1189.48 
6.17 
169. 92 
5.95 
124. 28 
5.33 
26.48 
2.62 
50 
I 7 
12 
] 
1187. 48 
5.78 
167. 92 
- 5.56 
122. 28 
4.95 
24.48 
2.25 
f o 
10 
1 
f 185. 77 
6.13 
166. 21 
5.91 
120. 57 
5.27 
22.77 
2.40 
. io 
1 3 
13 
[ 26. 13 
J 182. 77 
5.57 
163. 21 
5.35 
117.57 
4.72 
19.77 
1.87 
1 ^ 
15 
1180.77 
5.27 
161.21 
5.05 
115.57 
4.42 
17.77 
1.57 
I " 
17 
1 
ll78.77 
5.01 159.21 
4.79 
113.57 
4. 16 : 15. 77 
1.32 
i 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 i ndicated. 
* Calculated by formula p=100 (y 3 ^ 1 "^ - 1 J . where p = compound interest rate, n=number of 
years or rotation, 5=stumpage value at n years, L=eost of land, .F=cost of formation, and A=cost of 
administration and taxes in n years at 6 per cent compound interest. 
