The author reviews some concepts and definitions of value, and sets forth a practical refinement of a long-standing method of appraising timber, with application confined to determination of stumpage values on a pay-as-cut basis. Avoiding certain weaknesses of the familiar overturn method, this procednre is based upon a comparative analysis of expected gross returns, with provision for profit and risk in accordance with that indicated by actual transactions. It is shown to be especially useful in appraising mixed stands containing a number of important commercial species that differ in price of products and cost of conversion.
Document Type: Journal Article
Division of Timber Management, U. S. Forest Service, Washington, D. C.
Publication date: July 1, 1945
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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.