Schlich's Manual of Forestry

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3,851 shillings.
By introducing the values of the capital and of the mean annual net return into the above formula the mean annual forest per cent, is obtained as : — mean Pf = ' x 100 = 4-9 per cent.
The actual per cent, under the above given arrangement of cutting will be somewhat less than 4-9 per cent, during the first part of the rotation and more than 4-9 per cent, during the second part of the rotation, but, by slightly altering the annual coupes, the cuttings can be so regulated that wo
...od to the value of 4,311 shillings is cut every year throughout the rota- tion, giving approximately 4-9 per cent, annually from the beginning of the rotation to its end.
SECTION III.— NOTES ON THE FINANCIAL ASPECT OF FORESTRY.
The forecast of financial results of forestry depends on an estimate of future returns and expenses based upon past experi- ence ; hence, they are to some extent problematic. The degree of uncertainty depends on the intensity of management. It is considerable in the case of irregularly stocked and unsyste- matically managed forests ; it is small in the case of forests which have been intelligently managed for some time, and for which accurate data have been kept setting forth past receipts and expenses.


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