As far as the forester is concerned, timber is sold when fire destroys it, whether stand burned is ten years old or one hundred years old. The appraisal of mature stands presents few problems. A satisfactory yard stick for valuing immature stands has not yet been devised, but the author describes a method, recommended for use in Oregon and Washington, which deserves careful consideration.© Society of American Foresters, Bethesda, MD. Abstract reproduced by permission.