Definitions

from The American Heritage® Dictionary of the English Language, 4th Edition

  • n. Standing timber regarded as a commodity.
  • n. The value of standing timber.
  • n. The right to cut standing timber.

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • n. Trees and other standing timber, treated as a commodity.
  • n. The value of this timber.
  • n. The right to fell such timber.
  • n. The fee for the right to fell such timber.

from the GNU version of the Collaborative International Dictionary of English

  • n. 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.
  • n. A tax on the amount of timber cut, regulated by the price of lumber.

from The Century Dictionary and Cyclopedia

  • n. The right to cut trees on the seller's land. Payment is based on the measurement of the logs as they are brought to the landing and piled ready for the drive.
  • Of or pertaining to stumps or stumpage; reckoned by stumps.
  • n. Standing timber; timber-trees collectively, as in a particular tract of forest, with reference to their value for cutting or stumping, independently of that of the land.
  • n. A tax levied in some of the United States on the amount and value of timber cut for commercial purposes.

Etymologies

stump +‎ -age (Wiktionary)

Examples

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