Notes from Wikipedia:
Pebble Beach is located on the Rancho Pescadero Mexican land grant which was purchased by the Pacific Improvement Company in 1880. The Pebble Beach Company was originally created as the Del Monte Properties Company in 1919 by F.B. Morse, a distant cousin to Samuel F. B. Morse, an American painter and the inventor of the Morse Code and telegraph.[2] In the early 1900s, Morse was appointed manager for the Pacific Improvement Company, an affiliate of the vast Southern Pacific Railroad, which had extensive real estate holdings on the Monterey Peninsula. In 1919 Morse formed the Del Monte Properties Company and acquired those holdings, which included the Del Monte Forest and the popular Hotel Del Monte (now the Naval Postgraduate School in Monterey).
F.B. Morse died in 1969. Alfred Gawthrop, Jr., was Chairman of Del Monte Properties for some time before its sale to Marvin Davis.
In 1978, 20th Century Fox, then chaired by Davis, purchased the company and renamed it Pebble Beach Company. When the film company was sold to Rupert Murdoch in 1985, Davis kept several company assets not directly related to the film and TV industry, including the Pebble Beach Company and the Aspen Skiing Company.
In 1990 Davis sold the Pebble Beach Company to the Japanese businessman Minoru Isutani, who made it a subsidiary of the Japanese resort company Taiheiyo Club Inc. under a holding company called the Lone Cypress Company.
Famous "Witch Tree" landmark at Pescadero Point, Pebble Beach, September, 1962. The tree was blown down by a storm on January 14, 1964In 1999 the Pebble Beach Company was acquired from Lone Cypress by an investor group led by Clint Eastwood, Arnold Palmer, and Peter Ueberroth. In 2000, the company initiated Measure A, a controversial development proposal. Eastwood appeared in a $1 million advertising campaign urging voters to help save the forest. In 2006, the plan went before the California Coastal Commission for approval. On June 14, 2007, the plan was submitted again. Commissioner Sara Wan called it "wholesale destruction of the environment," and Measure A was denied in an 8 to 4 vote.
A famous landmark, known as the "Witch Tree," stood for decades at Pescadero Point and was sometimes used as scenic background in movies and television. It was displayed as part of the coast of Italy, in the 1951 movie Mr. Imperium, with Lana Turner, Ezio Pinza, Majorie Main and Barry Sullivan.[3] It was a "significant landmark of Pebble Beach until it fell during a storm on January 14, 1964."[4]