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The experiences of oil companies drilling wells in residential or indus-
trial areas were appraised in detail. Subdividers who were faced with
the problem of eventual oil development in residential subdivisions were
contacted. Special emphasis was given to the oil developments carried
on in La Habra Heights and the new La Mirada tract where oil drilling
islands have been retained throughout the residential area. The railroad
companies, large owners of land, were also contacted to obtain their
knowledge on the matter of concurrent surf ace and oil development in a
given area.

In order to determine the growth characteristics of the Los Angeles
basin, representatives of city, county, state, and federal agencies were
interviewed. The necessary statistics were developed from information
received from these sources. Because of the proximity of the San
Fernando Valley to the Newhall property, special e.mphasis was placed
on developing data on the over -all growth and economic characteristics
of the Valley. To round out the study, availabilfty and comparative
prices of industrial land in the Los Angeles basin were developed. These
data are particularly pertinent to the initial pricing policy the Newhall
Company will follow in developing proposed industrial areas of the plan-
ned community.

This study has been carried out by a research team from the Eco-
nomics Research Division. Harrison A. Price was the project manager
and Fredrick H. Good, the project leader. Redford C. Rollins, William
E. Spaulding, and Charles T. Thompson assisted in gathering the data
and in preparing certain phases of the report. Dr. James Gillies of the
University of California at Los Angeles prepared valuable data on the
economic characteristics of the San Fernando Valley.
\
Assistance furnished throughout the study by Mr. George Bushell
and the staff of the Newhall Land and Farming Company is acknowledged
with appreciation. Particular thanks ar·e due to Mr. Richard Cree and
Mr. Gifford Newlon for their cooperation with the Institute's team.

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