stumpage

stump +‎ -age

stumpage (countable and uncountable, plural stumpages)

1. Trees and other standing timber, treated as a commodity.
   • C. S. Sargent

     Only trees above a certain size are allowed to be cut by loggers buying stumpage from the owners of land.

2. The value of this timber.
3. The right to fell such timber.
4. The fee for the right to fell such timber.
   • 1895, Congressional serial set, United States. Government Printing Office, page 177:

     The cost of getting logs from the stump to the various sawmills, including cutting, hauling, driving, boomage, shorage, tolls, and other expenses, is, on an average, from $8 to $8.50 per 1000 feet. The average cost of stumpage is $2