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WHOtESAtE DOUGTAS FIR PONDER,OSA AND SUGAR, PINE

HARBOR 20r 4

Territory of Hqwqii to Recrpproise R.eql Property in Huge Building Surge

The Territory of Hawaii will soon take steps for a comolete fpppaisal of real property, it was disclosed^ by John Ctiitas, flonolulu businessman, on his recent session with a firm of Los Angeles appraisal engineers.

"Postwar events have caused immense changes in the economy of the Islands," he said;"We don't want to-tax ourselves into trouble. The Islands are better off financially than thev have ever been and one of the most important elements of siabilitv is a sane tax system." Although t6e Islands' chief income stiil comes from sugar, pineapple, tourists and services to the armed torces, a new element is the enhanced value of land throush its development as homesites and for industrial and commercial purposes, Childs pointed out.

In addition to numerous multimillion-dollar projects now p{ogfe:sr he cited these developments on the island -of Oahu which Honolulu is the chief city) alone:

NE}VPORT BEACH, CALIF.

structures and homes for 20,000 people; work ready to begin on 308 homes, two motels, a golf course and utilities ai Makalhana; completed plans for a 4,000-person community in the Kahuku section on windward Oahu; a housing project at Barber's Point and a $40 million refinery; 18,000 acres in the adjoining Ewa district to be developed for homes and shopping.

Expenditures_ for-Army-Navy housing urill -reach large proportions throughout the next five years, the Honolulu businessman said; among the projects will be 2,792 Capehart housing units. The Army has also broken ground for a$22,640,000 build-ing program at Schofield Barracks which will furnish 1,326 Capehart units.

Coloveros Holds Mining Clqims

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4 $ZS million slum-clearance program soon to start on a 106-acre area with 314 residences tb bE replaced; .f*oiut. ptr", ior a $100 million development in the l\{aunakua Bay arla of Bty !o1 1 the

6,040 acres for three shopping centers, golf courses, i'rr"it l""i harbor, two tourist hotels, a S--acre aparlments plot, commercial

Calaveras Cement Company is exercising four options to purchase acreage and mining claims totaling approximately 550 acres in the Redding area east of Highway 99 and souih of Shasta I-ake. It is being purchased for its limestone deposits, company officials said. Although Calaveras continues to hold options on several other properties in the area as potential sites for a new cement plant, no decision about exercising them has been made,. according to E. M. Barker, vice-president in charge of production.

He said the limestone properties are being purchased by the company as part of a long-range program of adding to reserves.