standing timber with reference to its value.
the value of such timber.

1815–25; stump + -age Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
stumpage (ˈstʌmpɪdʒ)
1.  (US), (Canadian) standing timber or its value
2.  (US), (Canadian) the right to fell timber on another person's land
3.  (Canadian) a tax or royalty payable on each tree felled, esp on crown land

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
If stumpage prices are increasing, then timber is becoming relatively more scarce.
Conversely, falling stumpage prices indicate that timber is becoming more abundant relative to demands for its use.
Regional differences in stumpage prices are evident in this report.
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