12. 
 
 
sified timber land included in the company's holdings in the Kabetogama 
State Forest which are offered to the state. 
 
       The whole matter comes down to a question of ultimate value. 
The test is, will the state gain or lose in the long run by making the 
proposed exchange, taking into consideration the interests of the school

and swap land trust funds and all other public interests affects? As 
before indioated, no decision on the merits can or will be mnde until 
after the publio hearing. Thereupon this department will proceed to 
analyze all the evidence which has been or will be submitted, and will 
make a final report to the Land Exchange CGorission respecting the value

of the lad concerned on both sides and such other matters as app ar to 
be rmterial. All onered may be assured that it will be the aim of the 
Land Exchange Commission and this departent to safeguard the Interests 
of the trust funds to the utmost and arrive at a decision in the best 
interests of the public. 
       Iesntime we suggest that persons or organization  interested in 
the Lmtter attempt to aqie'nt themselves with the facts as fully as 
possible. No Intelligeu* conclusion on the merits is possible without 
a study of the facts on both sides. Full information on any point 
involved, so far as available, iill be furnished by the department to 
any one interested on request. 
 
                         Respectfully suii tted, 
 
                             Cheaer B. Wilson, 
                             CQomissioner of Conservation