Definify.com
Webster 1913 Edition
Stumpage
Stump′age
,Noun.
1.
Timber in standing trees, – often sold without the land at a fixed price per tree or per stump, the stumps being counted when the land is cleared.
[Local, U.S.]
Only trees above a certain size are allowed to be cut by loggers buying
stumpage
from the owners of land. C. S. Sargent.
2.
A tax on the amount of timber cut, regulated by the price of lumber.
[Local, U.S.]
The Nation.