dredge plans for the alameda along ¦ technical s e required for the develop ment being undertaken by japan industrial land development co the other agreement resulted in a five-year lease of the alameda itself to this newly organized company and it is already at work your company is opti mistic about the opportunities for land recla mation and harbor development of many of japan's growing industrial cities which are particularly suited to high-volume hydraulic dredging operations dredging earned a modest profit this year compared with a loss for last year due mostly to the receipt of a substantial claim for work performed last year in the delaware river during the past 12 months the franciscan and a leased dredge the palmer performed work satisfactorily on the redwood city har bor the san leandro small craft harbor and the sacramento river barge canal land development utah's principal land development activities are based upon the philosophy of creating higher value from strategically located but currently unused land using its substantial earth-moving facil ities and experience to improve these lands by clearing grading and sometimes filling the company has sought to benefit from the dredge pipe lay major california projects moraga alameda south san francisco van den berg el segundo pauma valley