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Diqmond Nqtionql Hqs Frocture

A father-son rift has erupted at the top level of Diamond National Corp., a firm with well over'$100 million invested in northern California.

Richard J. Walters, 34, has resigned as president and director of the New York based manufacturer of packaging products, lurnber and matches.

' His father, chairman and chief executive officer William H. Walterg said the resignation was due to "difierence of opinion over company policies and procedure.'o The elder Walters will take over the presidency in addition to the chairmanship.

Declining to elaborate on the rift, the elder Walters, said: "There was nothing of viciousness. Definitely nothing of a personal nature." He added he "did not want to become involved in the matter of his son's future plans."

There was little in the company's activities to indicate the grounds for his break-up since Diamond National announced on July 2 what was then described as "a package of good news for its stockholders." It consisted of the quarterly dividend on common stock being raised to 60 cents a share from 55 cents, marking the fifth consecutive year the dividend has been raised; two-for' one stock split proposed; sales and earnings records for the first half of 1964, on the heels of 1963 earnings of $3.4I a share, up from $3.15 in 1962.

The company announced plans to reorganize into a holding company to be known as The Diamond International Corp. to "improve management efficiency and facilitate future expansion."

Diamond Nationel, whorc .predecessor, Diamond Match Co., has been a major lumber and match manufacturer in the Chico area since shortly after the turn of the century, now employs more than 3000 people in California.

Siolund Voted Dubs Prexy

Roy Sjolund, head of the newly formed Royal Wood Products with headquarters in Burlingame and plant at Healdsburg: was elected president of Dubs, Ltd. at the dubber's annual Election Tournament on July 17, at the Orinda Country Club. Dubber Roy succeeds congenial prexy Jack Crane who was released with a big vote of thanks and who is now devoting his full and varied talents to Crane Redwood Sales. San Rafael wholesaler, Bob Kilgore, moves into the vice-president slot behind Sjolund.

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Thirty-two golfers turned out for golf and dinner and Brian Bonnington hosted the meet at his home club.

First flight winner was Fred Ziese, Walt Hjort a stroke ofi the pace, followed by Jack Hill in third position.

Ray Teakle came down from Sacramento to cop top honors in the second flight, Les Doddington a stroke behind, and Ralph Bowman two off the pace in that division.

Third flight winner was Bill Leonard followed by outgoing prexy Crane, Al Soulages and Tom Gray tied for third low net. The annual Dave Davis Trophy went to Bill Bonnell for his fine eftort for the year.

Dubs, Ltd. played their first tournament of the new year on August 21, at Menlo Country Club in Woodside. The club's IB4th tournament will be held on September 25, at the Santa Rosa Country Club.

Plqstic-lmpregnqted Wood

The Atomic Energy Commission has moved to speed development and production of a new wood-plastic combination, 'onovawood," which the AEC believes has a promising future in home building, boat construction and several other areas.

Specifically, AEC invited companies to submit bids for 'otechnical and engineering studies and cost analyses leading to and including a conceptual design for a pilot plant for rodiation processing of plastic-impregnated wood."