. Bulletin of the Department of Agriculture. Agriculture; Agriculture. SHOETLEAF PINE : IMPORTANCE AND MANAGEMENT. 21 price will be noted for States more distant from the region of pro- duction. The figures thus represent only roughly the average cost of lumber of the various species in the different States and regions shown. STUMPAGE VALUE. The value of shortleaf pine stumpage is in general a little below that of longleaf in the Gulf States and above loblolly in the Central Atlantic States. The slightly higher market value of longleaf pine lumber and the distribution of shortleaf pine ov
. Bulletin of the Department of Agriculture. Agriculture; Agriculture. SHOETLEAF PINE : IMPORTANCE AND MANAGEMENT. 21 price will be noted for States more distant from the region of pro- duction. The figures thus represent only roughly the average cost of lumber of the various species in the different States and regions shown. STUMPAGE VALUE. The value of shortleaf pine stumpage is in general a little below that of longleaf in the Gulf States and above loblolly in the Central Atlantic States. The slightly higher market value of longleaf pine lumber and the distribution of shortleaf pine over the more hilly lands have a tendency to make the stumpage value for shortleaf slightly lower than for longleaf pine. The closer proximity, how- ever, of shortleaf to the markets of the Central and Middle Western States gives it an advantage. The purchase of " timber rights " in the North Carolina pine region by one company from 1896 to 1908, shown in figure 2, illustrates the. YEAR 1896 1899 1900 1902 1904- 1906 1908 1912 Fig. 2.—Cost of yellow-pine stumpage to one company in North Carolina, from 1896 to 1908 ("The Lumber Industry," Bureau of Corporations, p. 23), and estimate for 1912 (based on average price for North Carolina in 1912, plus increase of price in 1909 over average value for State). general upward movement of yellow pine stumpage in the eastern In the central Mississippi Valley region the stumpage values are not essentially different from those in North Carolina. In Arkansas stumpage for virgin timber was worth, in round figures, 40 cents in 1890, $1 in 1900, $ in 1907, at the crest of the year's prices, and in 1913 was reported at $3 to $4. Second growth in abandoned fields reaches diameters of 10 to 14 inches in fifty years, with yields of 10 to 20 thousand feet. Such tracts, if located near good local markets with railroad facilities, have stumpage values ranging from 50 cents up to about $, but otherwise values are sm
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