Abstract
THIS book represents the development of earlier work on valuation and finance by Prof. Chapman of Yale. The wide scope of the applied part can be inferred from the main contents : the evaluation of real property producing annual income ; present worth of forests producing periodic income ; costs of production versus profits and the role of compound interest ; rates earned and the profit margin ; rotations ; taxation ; damages ; fire insurance ; methods of appraisal of stumpage value ; determination and application of conversion returns ; and the appraisal of forestry purchases for future operations. Appropriate formulae, mainly concerned with compound interest and discount, are provided for the many and various problems which arise in forest finance. The importance of discount as applied to future net income in determining the present worth of an enterprise is stressed. Market values have limitations, and confusion in the past has been caused by the limitations in the use of compound interest. The authors hope that their treatment marks the final departure from the original European sources of forest evaluation and statics as set forth in Schlieh‘s "Manual of Forestry". Many of the problems illustrated in the book are therefore specifically North American, although the principles outlined have wide applicability.
Forest Valuation
With Special Emphasis on Basic Economic Principles. By Prof. Herman H. Chapman and Prof. Walter H. Meyer. (American Forestry Series.) Pp. xii + 521. (New York and London : McGraw-Hill Book Co., Inc., 1947.) 36s.
Article PDF
Rights and permissions
About this article
Cite this article
MACGREGOR, J. Forest Valuation. Nature 161, 831 (1948). https://doi.org/10.1038/161831b0
Issue Date:
DOI: https://doi.org/10.1038/161831b0