U.S. Business: Paper Profits

For an ex-seafarer, Reed Oliver Hunt has fared remarkably well on land. As chairman and chief executive of San Francisco's Crown Zellerbach Corp., one of the world's largest manufacturers of paper products, Hunt, 62, presides over an empire that controls 2,730,000 acres of forest, operates 15 mills, keeps 26,000 people working. Through its subsidiary Zellerbach Paper Co., the company markets some 25,000 products. At its annual meeting last week Crown Zellerbach announced record first-quarter earnings of $11.7 million on sales of $187.5 million—which sent its stock to a 1967 high of 54½.

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