22 
DEPARTMENT OF AGRICULTURE. 
Table 20. — 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 7 INCHES AND OVER IN DIAMETER BREASTHIGH, CUT AND 
GRADED AS NORTH CAROLINA PINE LUMBER. 
Net profit 3 and corresponding compound interest rate 4 on 
Initial investments. 
total initial investment at different distances 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 
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.. 
Perct. 
Per ct. 
Perct. 
Per ct. 
( $0 
$5 
1 
f$15.60 
7.34 
$13. 85 
6.86 
$11. 64 
6.20 
$7.50 
4.68 
' 85 
1 3 
8 
I $2. 21 
J 12.60 
4.84 
10. 85 
4.38 
8.64 
3. 73 
4.50 
2.26 
1 *•* 
10 
1 10.60 
3.68 
8.85 
3.22 
6.64 
2.58 
2.50 
1.12 
20 
I " 
12 
J 
I 8.60 
2.74 
6.85 
2.28 
4.64 
1.65 
.50 
.21 
f 
10 
| 
f 14.50 
4.58 
12.75 
4.20 
10.54 
3.66 
6.40 
2.51 
10 
1 3 
13 
I 3. 31 
I 11.50 
3.22 
9.75 
2.84 
7.54 
2.31 
3.40 
1.17 
1 ^ 
15 
1 9. 50 
2.48 
7.75 
2.10 
5.54 
1.58 
1.40 
.45 
I 7 
17 
J 
I 7.50 
1.84 
5.75 
1.47 
3.54 
.95 
{ o 
5 
| 
f 56.40 
8.72 
50.78 
8.37 
43.61 
7.88 
29.89 
6.69 
' 5 
I 3 
8 
I 4.74 
I 53.40 
7.03 
47.78 
6.69 
40.61 
6.20 
26.89 
5.03 
I 5 
10 
1 51.40 
6.24 
45.78 
5.90 
38. 61 
5.41 
24.89 
4.25 
30 
I 7 
12 
1 
I 49.40 
5.59 
43.78 
5.25 
36.61 
4.77 
22.89 
3.62 
f o 
10 
1 
f 54.02 
6..38 
48.40 
6.06 
41.23 
5.60 
27.51 
4.50 
10 
J 3 
13 
,n 
J 51.02 
5.46 
45.40 
5.14 
38. 23 
4.68 
24. 51 
3.59 
1 5 
15 
1 49.02 
4.96 
43. 40 
4.63 
36. 23 
4.18 
22.51 
3.10 
I 7 
17 
J 
I 47.02 
4.52 
41.40 
4.20 
34.23 
3.75 
20.51 
2.67 
f o 
5 
| 
f 99.62 
7.90 
90.34 
7.65 
78.38 
7.29 
55.28 
6.42 
' 5 
J 3 
8 
I 9.29 
I 96.62 
6.64 
87.34 
6.39 
75.38 
6.03 
52.28 
5.18 
1 5 
10 
1 94.62 
6.04 
85.34 
5.80 
73. 38 
5.45 
50.28 
4.59 
40 
7 
12 
) 
I 92.62 
5.56 
83.34 
5.32 
71.38 
4.96 
48.28 
4.19 
f 
10 
| 
f 94.98 
6.05 
85. 70 
5.81 
73.74 
5.46 
50.64 
4.61 
10 
3 
13 
I 13. 93 
J 91.98 
5.36 
S2.70 
5.12 
70.74 
4.77 
47.64 
3.92 
5 
15 
1 89.98 
4.98 
80.70 
4.74 
68.74 
4.39 
45.64 
3.55 
I 7 
17 
1 
I 87.98 
4.66 
78.70 
4.41 
66. 74 
4.07 
43. 64 
3.23 
f o 
5 
1 
[151.07 
7.13 
137. 51 
6.93 
119. 87 
6.65 
85. 52 
5.96 
3 
8 
1 17. 42 
1148.07 
6.12 
134. 51 
5.93 
116.87 
5.65 
82.52 
4.97 
5 
1 5 
10 
1 146. 07 
5.65 
132. 51 
5.46 
114.87 
5.18 
80. 52 
4.50 
50 
I 7 
12 
I 
1144. 07 
5.26 
130. 51 
•5.07 
112. 87 
4.80 
78. 52 
4.12 
f o 
io 
| 
f 142. 36 
5.60 
128. 80 
5.40 
111.16 
5.12 
76. 81 
4.42 
10 
3 
13 
I 26. 13 
J 139. 36 
5.05 
125. 80 
4.85 
108. 16 
4.56 
73.81 
3.87 
1 5 
15 
1137.36 
4.75 
123. 80 
4.55 
106. 16 
4.27 
71.81 
3.57 
I 7 
17 
) 
1 135. 36 
4.48 
121. 80 
4.29 
104. 16 
4.01 
69. 81 
3.31 
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 15, less original cost of formation and total cost of administration and 
taxes. Where no net profit is shown, a loss is in dicated. 
* Calculated by formula ^=100 ' 
(V- 
•1 I , where p=compound interest rate, n=number of 
years or rotation, 5=stumpage value at n years, i=cost of land, F=cost of formation, and J.=cost of 
administration and taxes in n years at 6 per cent compound interest. 
