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Analysis of Financial Returns from Liquidation and the Two-Cut System

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Using Stoddard's figures comparing liquidation and the two-cut system in the Lake States, the author presents a detailed analysis of costs and returns. This analysis differs from Stoddard's in the treatment of interest, taxes, and fixed investment in plant, but follows his fundamental assumptions even where disagreement is expressed, as the emphasis is on methods rather than on results. It gives, however, a lower present worth for the property under either type of management, and a smaller differential in favor of the two-cut system. Such analyses of the financial aspects of proposed management procedures are essential to the extension of forestry as a business enterprise.

Document Type: Journal Article

Affiliations: U. S. Forest Service

Publication date: 1940-07-01

More about this publication?
  • The Journal of Forestry is the most widely circulated scholarly forestry journal in the world. In print since 1902, the Journal has received several national awards for excellence. The mission of the Journal of Forestry is to advance the profession of forestry by keeping forest management professionals informed about significant developments and ideas in the many facets of forestry: economics, education and communication, entomology and pathology, fire, forest ecology, geospatial technologies, history, international forestry, measurements, policy, recreation, silviculture, social sciences, soils and hydrology, urban and community forestry, utilization and engineering, and wildlife management. The Journal is published bimonthly: January, March, May, July, September, and November.

    2015 Impact Factor: 1.476
    Ranking: 22 of 66 in forestry

    Average time from submission to first decision: 39.6 days*
    June 1, 2016 to Feb. 28, 2017

    Also published by SAF:
    Forest Science
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