UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                          Washington, D. C.  20549
                                  FORM 10-K
	
              ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                    THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended   October 31, 1996    Commission File No.    0-1370 

                            LONGVIEW FIBRE COMPANY                            
           (Exact name of registrant as specified in its charter)

                 Washington                                91-0298760         
    (State or other jurisdiction of                  (I.R.S. Employer
     incorporation or organization)                 Identification No.)

             Longview, Washington                          98632              
 (Address of principal executive offices)                (Zip Code)

Registrant's telephone number, including area code          (360) 425-1550    
 
Securities registered pursuant to Section 12(b) of the Act:

      Title of each class            Name of each exchange on which registered 
  
 Common Stock, $1.50 Ascribed Value          New York Stock Exchange          
 
 Rights to purchase Common Stock             New York Stock Exchange          
 
Securities registered pursuant to Section 12(g) of the Act:     None          
                                                              (Title of Class)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the 
registrant was required to file such reports), and (2) has been subject to 
such filing requirements for the past 90 days.             Yes   X    No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 
of Regulation S-K is not contained herein, and will not be contained, to the 
best of registrant's knowledge, in definitive proxy or information statements 
incorporated by reference in Part III of this Form 10-K or any amendment to 
this Form 10-K.   X  

State the aggregate market value of the voting stock held by non-affiliates of 
the registrant.  The aggregate market value shall be computed by reference to 
the price at which the stock was sold, or the average bid and asked prices of 
such stock, as of a specified date within 60 days prior to the date of filing.

Market value per share $18.375 as of December 31, 1996      Total $853,684,584 
                  
Indicate the number of shares outstanding of each of the issuer's class of 
common stock as of December 31, 1996.           51,698,912  shares outstanding

                     DOCUMENTS INCORPORATED BY REFERENCE
   PART III - NOTICE OF ANNUAL MEETING OF SHAREHOLDERS AND PROXY STATEMENT
                          dated December 16, 1996.
   PART IV - Current Report on Form 8-K dated December 6, 1996.
Page 1<PAGE>
                                     PART I
ITEM 1.  BUSINESS

(a)  GENERAL DEVELOPMENT OF BUSINESS

     Longview Fibre Company was incorporated in the State of Washington in    
     1990 as a successor to a company of the same name incorporated in the    
     State of Delaware in 1926.  No general development of material importance 
     has occurred during the past fiscal year.

(b)  FINANCIAL INFORMATION ABOUT INDUSTRY SEGMENTS

     This item is completed by reference to Note 11 of Item 8 of this Form    
     10-K.

(c)  NARRATIVE DESCRIPTION OF BUSINESS

    (i-x) Principal Products, Markets and Methods of Distribution

          TIMBER - The company owns and operates tree farms in Oregon and    
          Washington which produce logs for sale in the domestic and export  
          markets.  The majority of domestic sales are to independent 
          sawmills and plywood plants within a reasonable hauling distance 
          from our tree farms.  The company exports logs principally to Japan 
          through sales to U.S. exporters or directly to foreign importers.  
          The company does not believe that the loss of one customer or group 
          of customers would have a material effect on the company.

          Environmental overregulation continues to plague our tree farm     
          operations.  The company estimates that the loss does not exceed 
          10% of realizable value.

          At October 31, 1996, the company owned in fee 556,419 acres of tree 
          farms which are managed on a sustained yield basis with rotations 
          of 40 years for hardwood and 55 to 70 years for coniferous species.

          The company owns and operates a sawmill in Leavenworth, Washington. 
          Having an efficient small log sawmill in this region results in    
          improved log realization on the Chelan tree farm.  Residual wood   
          chips are used at the company's pulp and paper mill in Longview,   
          Washington.

          PAPER AND PAPERBOARD - The company's pulp and paper mill in        
          Longview, Washington produces pulp which is manufactured into kraft 
          paper and containerboard.

          Sales of paper are made primarily in the domestic market with some 
          grades of paper sold in the export market.  Containerboard is sold 
          in the export market and in the Pacific Coast states.  The loss of 
          a single customer, or a few customers, would not have a material   
          effect on the company.  Products are sold by the company's sales   
          force working out of San Francisco and Los Angeles, California; 
          Longview, Washington; Milwaukee, Wisconsin; and Atlanta, Georgia or 
          through paper merchants.

          The mill's raw material fibers come primarily from purchased wood  
          chips and sawdust with important contributions from fiber reclaimed 

Page 2<PAGE>
          from post-consumer and post-industrial waste, purchased bleach 
          pulp, and augmented by log chipping operations owned by the company 
          and others.

          Chip costs have declined to levels that are reasonably comparable 
          to those in the South which helps to restore this region's 
          competitive position.  It is anticipated that the chip cost level 
          will remain competitive as both export and domestic demand have 
          moderated and supply has been enhanced by greater recovery of woods 
          wastes and going further for sawmill wastes.  Increased use of 
          recycled containers lowers fiber costs and enhances supply.

          An arrangement has been made to purchase pressed bleached pulp 
          (which has not been dried) from a nearby mill which has excess 
          capacity.  The company believes that this will restore its 
          competitive position in bleached grades.  The company can continue 
          if necessary to make some hydrogen peroxide bleached pulp which is 
          suitable for some colored grades.

          To spread risk, the company has been engaged in a long campaign to 
          increase value added products.  Through the years, paper machines 
          of various trim widths and capabilities have been added while the  
          smaller and older machines have been kept in service to make small 
          lots of colors and other specialties.  During the course of this   
          evolution, the commodity base (paperboard and bag paper) was not   
          neglected as this makes the volume great enough to lower pulp and  
          utility costs.  Several machines are swing machines which can      
          produce paper or paperboard.  Due to current market conditions, a 
          greater proportion of paperboard is being produced.

          The company continues to emphasize quality, service, continuity and 
          design of products to meet customers needs.  The company believes 
          it is in an acceptable competitive posture as to its primary 
          products.

          CONVERTED PRODUCTS - The company's fifteen converting plants in ten 
          states produce shipping containers and merchandise and grocery 
          bags.  The tonnage of paper and containerboard used in the 
          converting plants equals approximately 66% of the Longview mill 
          production.

          Bags are sold by the company's sales force working out of San      
          Francisco and Los Angeles, California; Longview, Washington; and   
          Waltham, Massachusetts.  Sales are made directly or through paper  
          merchants.

          Corrugated and solid fibre boxes are sold by the company's offices 
          located at Longview, Seattle and Yakima, Washington; Portland,     
          Oregon; San Francisco, Los Angeles and Oakland, California; Twin 
          Falls, Idaho;  Spanish Fork and Cedar City, Utah; Milwaukee, 
          Wisconsin; Rockford, Illinois; Cedar Rapids, Iowa; Minneapolis, 
          Minnesota; Atlanta, Georgia; Amsterdam, New York; and Springfield, 
          Massachusetts.  The loss of a single customer, or a few customers, 
          would not have a material effect on the business of the company.

Page 3<PAGE>
          The company is well along in major modernization of its box plants, 
          which are now some of the best equipped in the United States.  
          Modernization will continue at a slower pace.

          The company believes it competes on even terms in highly 
          competitive markets avoiding large accounts which have reached 
          excessive loss levels.

          The following table sets forth the contribution to sales by each   
          class of similar products which accounted for more than 10% of     
          sales.

                                     1996     1995    1994
          Paper and Paperboard        24%      31%     28%         
          Timber                      23%      21%     25%
          Converted Products          53%      48%     47%

          No material portion of the business of the company is seasonal.

          The practice of the company and the industry does not require an   
          abnormal amount of working capital.
		         
     (xi) The amount spent on research and development is completed by  	  
          reference to Note 4 of Item 8 of this Form 10-K.

    (xii) This item is completed by reference to Item 7 of this Form 10-K.

   (xiii) The company has approximately 3,900 employees.

(d)  FINANCIAL INFORMATION ABOUT FOREIGN AND DOMESTIC OPERATIONS AND EXPORT   
     SALES 

     Segment information (including amount of export sales) is completed by   
     reference to Note 11 of Item 8 of this Form 10-K.

ITEM 2.  PROPERTIES

The principal plants and important physical properties of the company are held 
without any major encumbrances and their respective locations by industry 
segment are as follows:

TIMBER - As of October 31, 1996, the company owned in fee 556,419 acres of 
tree farms located in various counties of Washington and Oregon.  The company 
as a matter of policy has consistently acquired and intends to continue to 
acquire more timberlands whenever purchasable at acceptable prices dependent 
on the location and quality of the site involved and the species and quality 
of the merchantable timber and growing stock thereon.  The company operates 
its tree farms on a sustained yield basis with rotations of 40 years for 
hardwood and 55 to 70 years for coniferous species.  No large inventory of 
mature trees is maintained.

PAPER AND PAPERBOARD - At Longview, Washington on a site of approximately 350 
acres owned by the company with deep water frontage on the Columbia River and 
featuring connections with two transcontinental railroads and adequate highway 
access, there is an integrated operation for producing pulp and delivering it 
to twelve paper and/or containerboard machines with full supporting 
facilities. 

Page 4<PAGE>
Mill utilization was at 82% during fiscal 1996.

CONVERTED PRODUCTS - On the same site at Longview there is a box factory for 
production of solid fibre and corrugated boxes.  

At each of the following thirteen locations, there are factories for the 
production of converted products:

     Oakland, California            Corrugated Boxes Only
     Twin Falls, Idaho               "        "    "
     Rockford, Illinois              "        "    "
     Cedar Rapids, Iowa              "        "    "
     Springfield, Massachusetts      "        "    "
     Minneapolis, Minnesota          "        "    "
     Amsterdam, New York             "        "    "
     Seattle, Washington             "        "    "
     Yakima, Washington              "        "    "
     Cedar City, Utah           Corrugated Boxes from Corrugated Sheets
     Spanish Fork, Utah         Corrugated Boxes, Merchandise Bags,
                                 Grocery Bags and Specialty Bags
     Milwaukee, Wisconsin       Corrugated and Solid Fibre Boxes
     Waltham, Massachusetts     Merchandise Bags and Specialty Bags

The volume of converted products sold decreased during the past fiscal year. 
Capacity is available for increased sales.

ITEM 3.  LEGAL PROCEEDINGS

The company is a party to various proceedings relating to the cleanup of 
hazardous waste under the Comprehensive Environmental Response Compensation 
and Liability Act, and similar state laws.  The company is also a party to 
other legal proceedings generally incidental to its business.  Although the 
final outcome of any legal proceeding cannot be predicted with any degree of 
certainty, the company presently believes that any ultimate liability 
resulting from any of the legal proceedings, or all of them combined, would 
not have a material effect on the company's financial position or results of 
operation.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

Nothing was submitted during the fourth quarter of the fiscal year to a vote 
of the shareholders.

Page 5<PAGE>
EXECUTIVE OFFICERS OF THE COMPANY

Name                Age          Office and Year First Elected

R. P. Wollenberg    81  (1) Chairman of the Board, President and 
                        Chief Executive Officer                   (1953)

R. E. Wertheimer    68  (2) Executive Vice President              (1960)

R. J. Parker        48  (3) Senior Vice President-Production      (1994)

D. L. Bowden        61  (4) Senior Vice President-Timber          (1989)

L. J. Holbrook      41  (5) Senior Vice President-Finance,
                        Secretary and Treasurer                   (1989)

D. C. Stibich       65  (6) Senior Vice President-Paper Sales     (1981)

R. B. Arkell        65  (7) Vice President-Industrial Relations
                        and General Counsel                       (1986)

(1)     R. P. Wollenberg

        From 1985  Chairman, President and Chief Executive Officer
        1978-1985  President and Chief Executive Officer
        1969-1978  President 
        1960-1969  Executive Vice President

(2)     R. E. Wertheimer    

        From 1985  Executive Vice President
        1975-1985  Vice President-Container Division
        1974-1975  Vice President-Production
        1963-1974  Vice President-Container Sales

(3)     R. J. Parker

        From 1994  Senior Vice President-Production
        1993-1994  Vice President and Assistant to the President
        1992-1993  Pulp Mill Superintendent
        1985-1992  Assistant Pulp Mill Superintendent
                                                                    
(4)     D. L. Bowden

        From 1992  Senior Vice President-Timber
        1989-1992  Vice President-Timber
        1980-1989  Assistant Timber Manager

(5)     L. J. Holbrook

        From 1992  Senior Vice President-Finance, Secretary and Treasurer
        1991-1992  Vice President-Finance, Secretary and Treasurer
        1989-1991  Assistant Secretary and Assistant Treasurer

Page 6<PAGE>
(6)     D. C. Stibich

        From 1986  Senior Vice President Paper Sales
        1981-1986  Vice President Paper Sales
        1968-1981  Manager Paper Sales

(7)     R. B. Arkell

        From 1979  Vice President Industrial Relations and General Counsel


                                PART II

ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED SHAREHOLDER MATTERS

Transaction prices per share as reported on the New York Stock Exchange are 
reported below.

            Fiscal         1996   	       1995    
            Quarter   High     Low	  High     Low 
            1st     $18.38  $14.63	$17.25  $14.88
            2nd      18.13   15.75	 18.00   15.50
            3rd      18.25   14.13	 19.63   15.63
            4th      17.63   14.88	 19.00   13.25
 
The company estimated it had approximately 13,000 shareholders on December 9, 
1996.

Dividends per share paid in fiscal 1996, 1995 and 1994:

                         1996      1995       1994
            January     $0.15     $0.13      $0.13
            April        0.15      0.14       0.13
            July         0.15      0.14       0.13	
            October      0.19      0.19       0.13	
                        $0.64     $0.60      $0.52

The Directors declared a regular dividend of $0.16 per share which was paid on 
January 10, 1997, to shareholders of record on December 24, 1996. 

Restrictions on the company's ability to pay cash dividends are completed by 
reference to Note 6 of Item 8 of this Form 10-K.

Page 7<PAGE>
ITEM 6.  SELECTED FINANCIAL AND OTHER DATA
<TABLE>
<S>                                         <C>        <C>        <C>        <C>       <C>
(dollars in thousands except per share)           1996       1995       1994     1993      1992
STATEMENT OF INCOME                               
Net Sales . . . . . . . . . . . . . . . . . $  822,722 $  985,515 $  790,874 $689,551  $690,998
  Timber. . . . . . . . . . . . . . . . . .    186,405    207,735    197,978  166,822   114,944
  Paper and paperboard. . . . . . . . . . .    199,827    308,356    223,920  189,787   234,119
  Converted products. . . . . . . . . . . .    436,490    469,424    368,976  332,942   341,935
Cost of products sold, including
  outward freight . . . . . . . . . . . . .    657,737    778,032    659,309  554,984   571,453
Gross profit. . . . . . . . . . . . . . . .    164,985    207,483    131,565  134,567   119,545
Selling, administrative and general 
  expenses. . . . . . . . . . . . . . . . .     60,199     59,709     54,769   49,994    48,971
Operating profit. . . . . . . . . . . . . .    104,786    147,774     76,796   84,573    70,574 
  Timber. . . . . . . . . . . . . . . . . .    104,449    121,738    111,907  101,471    61,006
  Paper and paperboard. . . . . . . . . . .      4,300      7,442    (15,703)  (2,181)   14,398 
  Converted products. . . . . . . . . . . .     (3,963)    18,594    (19,408) (14,717)   (4,830)
Interest expensed . . . . . . . . . . . . .    (29,506)   (29,447)   (24,384) (22,772)  (24,356)
Other income. . . . . . . . . . . . . . . .     11,584      1,912      1,902    1,287     1,169
Income before income taxes. . . . . . . . .     86,864    120,239     54,314   63,088    47,387
Provision for income taxes. . . . . . . . .     30,500     44,200     20,900   22,800    15,300
Net income. . . . . . . . . . . . . . . . .     56,364     76,039     33,414   40,288    32,087
			  		
PER SHARE					
Net income. . . . . . . . . . . . . . . . . $     1.09 $     1.47 $     0.64 $   0.78  $   0.62
Dividends . . . . . . . . . . . . . . . . .       0.64       0.60       0.52     0.52      0.52
Earnings reinvested in the business . . . .       0.45       0.87       0.12     0.26      0.10
Shareholders' equity at year-end. . . . . .       9.10       8.65       7.80     7.69      7.39
Average shares outstanding (thousands). . .     51,731     51,787     51,861   51,785    51,688
Shares outstanding at year-end (thousands).     51,706     51,751     51,830   51,882    51,685
					
BALANCE SHEET DATA					
Total assets. . . . . . . . . . . . . . . . $1,197,280 $1,153,823 $1,022,049 $944,373  $950,768
Working capital . . . . . . . . . . . . . .     50,974     42,559     35,761   34,308    30,119
Capital assets. . . . . . . . . . . . . . .    951,137    906,586    815,509  767,130   777,655
Deferred taxes - net. . . . . . . . . . . .   (135,106)  (119,205)  (103,234) (97,693)  (83,266)
Long-term debt. . . . . . . . . . . . . . .    426,255    409,374    366,492  327,486   362,400
Shareholders' equity. . . . . . . . . . . .    470,412    447,899    404,253  398,795   382,117
					
OTHER DATA					
Sales:  Logs, thousands of board feet . . .    243,000    262,000    250,000  212,000   232,000
        Lumber, thousands of board feet . .     33,000     32,000     36,000   25,000    11,000 
        Paper, tons . . . . . . . . . . . .    207,000    259,000    236,000  226,000   253,000
        Paperboard, tons. . . . . . . . . .    129,000    212,000    181,000   96,000   174,000
        Converted products, tons. . . . . .    542,000    572,000    549,000  506,000   525,000 
        Logs, $/thousand board feet . . . . $      719 $      753 $      743 $    745  $    486
        Lumber, $/thousand board feet . . .        367        313        352      347       208 
        Paper, $/ton FOB mill equivalent. .        664        698        592      608       607
        Paperboard, $/ton FOB mill 
          equivalent. . . . . . . . . . . .        356        489        336      311       320
        Converted products, $/ton . . . . .        805        821        672      658       651
Primary production, tons. . . . . . . . . .    905,000  1,058,000    968,000  822,000   894,000
Employees . . . . . . . . . . . . . . . . .      3,900      3,800      3,750    3,500     3,450
Funds:  Used for plant and equipment. . . . $  127,558 $  138,613 $   81,544 $ 53,256  $ 66,744
        Used for timber and timberlands . .      3,822     35,046     43,494    4,700     7,579
</TABLE>

Page 8<PAGE>
ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

RESULTS OF OPERATIONS 1996 vs. 1995

1996 was another difficult year as earnings decreased 26%.

Timber profits declined from $121,738,000 to $104,449,000 in fiscal 1996 
primarily because prices for logs were 5% lower and volume was down 7%.  
Domestic log prices were adversely affected by reduced residual chip prices in 
early 1996, but there has been some recovery of domestic log prices with an 
improving lumber market.  Export log prices have remained fairly stable at a 
high level throughout 1996 due to reduced overall supply of exportable quality 
logs.

The company operates its 556,419 acres on a sustained yield basis with 
rotations of 40 years for hardwood and 55 to 70 years for coniferous species. 
Based on recent large purchases and sales, we now estimate the value of the 
tree farm to be between five and eight times book value.

Environmental overregulation continues to reduce return on our tree farm 
operations.  We estimate that the loss does not exceed 10% of realizable 
value.

Operating results for paper and paperboard declined from $7,442,000 to 
$4,300,000.  Reduced end usage coupled with expanded industry capacity 
resulted in lower prices and capacity utilization, offset in part by lower raw 
material costs.  Volume sold decreased 29% and average price decreased 5% and 
27% for paper and paperboard, respectively.

Wood chip costs were about 11% lower than the prior fiscal year.  Current 
costs have declined to levels that are reasonably comparable to those in the 
South which helps restore this region's competitive position.  It is 
anticipated that the chip cost level will remain competitive as both export 
and domestic demand have moderated and supply has been enhanced by greater 
recovery of woods wastes and going further distances for sawmill wastes.  
Increased use of recycled containers lowers fiber costs and enhances supply.

An arrangement has been made to purchase pressed bleached pulp (which has not 
been dried) from a nearby mill which has excess capacity.  We believe that 
this will restore our competitive position in bleached grades.  We can 
continue if necessary to make some hydrogen peroxide bleached pulp which is 
suitable for some colored grades.

Old corrugated container prices remain quite low.  It is expected that as more 
recycled mills come on-line, these prices will tend to increase.

Mill operation was at about 82% of capacity.  Because of weak markets, the 
paper mill operated for much of the year with reduced crews and shorter hours
on several machines, displacing a substantial number of machine hands.  Rather 
than lay these employees off, the company elected to utilize them primarily as 
temporary helpers in the mechanical department.  This permitted catch-up in 
maintenance and installation work and was good for morale.  Labor costs remain 
high.

Page 9<PAGE>
Converting results declined from $18,594,000 to $(3,963,000) due to a 5% 
reduction in tonnage sold and an average price decrease of 2% and increased 
costs.

Price stability, which should be possible for our manufactured products, has 
not been achieved.  If demand improves somewhat, compensatory product prices 
may again become achievable.

In the face of unwarranted (and often short term) price cutting by incautious 
competitors, the company continues to stress quality, service, and specialized 
capabilities and makes every effort to achieve compensatory prices.  We 
believe that, for the long term, money losing suppliers are not going to 
render optimum performance for their customers, and we are determined to 
provide optimum service.

The current popularity of "just in time" procurement programs has led some 
customers to make unreasonable demands for instant shipments.  These create 
substantial increases in our manufacturing costs which in the long term must 
be paid by our customers.  It is in their best interests to do a good job of 
anticipating needs in a timely manner and only request extraordinary service 
for a small number of bona fide emergencies.

Due to deregulation, power sales markets for firm power have decreased.  Our 
customer has bought its way out of our contract and our cogeneration is 
currently all being used internally.  It still makes a modest contribution to 
reduced cost, but this is less than the prior contribution when part was sold.

Selling, administrative and general expenses were 7% of sales in fiscal 1996 
and 6% of sales in 1995.  Higher total borrowing partially offset by lower 
interest rates resulted in an increase in interest expensed from $29,447,000 
to $29,506,000.

The current market for the company's manufactured products is weak but seems 
to have bottomed out.  It will take a while for the excess capacity in our 
sector of the paper industry to be absorbed, but we believe this will occur.  
The company will pursue a cautious policy as to pricing in an attempt to 
maintain a reasonable load factor without selling at unreasonably low prices. 
Log markets are expected to remain strong.  Fiber costs should remain at 
reasonable levels.

RESULTS OF OPERATIONS 1995 vs. 1994

Earnings in 1995 improved by 128% over the prior year.  However, earnings 
remained 21% below 1988, while shareholders' equity has increased by 27% since 
1988.  This shows a continuing need for improvement.

Timber profits increased from $111,907,000 to $121,738,000 in fiscal 1995 due 
primarily to a 5% increase in log footage sold.  Prices for logs in fiscal 
1995 were flat as compared with fiscal 1994.  Demand and prices remain at good 
levels in both the export and domestic markets.

We have salvaged the bulk of the fire-killed trees from the 1994 Chelan County 
fire.  Because of checking in dry weather, any remaining fire-killed crop will 
be primarily useful for chips.

Page 10<PAGE>
The company operates its 556,389 acres on a sustained-yield basis with 
rotations of 40 years for hardwood and 60 to 70 years for coniferous species. 
Based on recent purchases and sales, we now estimate the value of the tree 
farms to be between five and seven times book value.

Attempts are continuing to extend environmental overkill to private lands.  
This effort increases our operating costs and can reduce the value of our 
lands.  We presently estimate this adverse effect to be not greater than 10% 
of realizable value.

Operating results for paper and paperboard improved from $(15,703,000) to 
$7,442,000 due to a 13% increase in volume sold and price increases that more 
than covered cost increases.  The average selling price for paper and 
paperboard improved 18% and 46%, respectively.  High labor and wood chip costs 
continue to hold back earnings.

Chip costs increased 28% compared with the prior fiscal year, but it appears 
that the peak has passed and further reductions can be expected.  Vigorous 
efforts to broaden the area tapped and to extend supply by more intensive 
salvage have reduced the supply-demand imbalance.  We continue to expect that 
regional differences in chip costs will diminish.

The shutdown of our bleach plant in fiscal 1994 has turned out to be 
unfortunate.  Prices of bleached market pulp has more than doubled, which has 
caused a reduction in the amount of bleached product we can sell profitably.  
We have started making a semi-bleached pulp utilizing hydrogen peroxide.  This 
product can be substituted for full bleached in some grades.  It appears that 
it may become possible to equip to extend hydrogen peroxide bleaching to 
brighter grades.  If this can be accomplished, we might be freed from the 
purchase of market pulp and would have a totally chlorine-free product.

Old corrugated container prices declined in the last part of the fiscal year.

Markets were strong for the first two quarters with slowing in the last half 
of the year.  Mill operation was at about 95% of capacity.  Paperboard and 
packaging paper demand is currently fairly close to industry capacity which 
should augur well for price stability; however, competitors often fail to 
realize that when volume declines industry downtime is inevitable.

Converting results improved from $(19,408,000) to $18,594,000 due to a 4% 
increase in volume sold and price increases that more than covered cost 
increases.

The company has invested very heavily in equipment to meet the needs of its 
customers.  These costs have necessitated moderate price increases.  We are 
confident that the improvements in quality, service, continuity and 
specialized manufacturing ability achieved after equipment improvements have 
met our customers' best interests.

The cogeneration plant came on line in June with a few minor difficulties and 
delays.  It is now operating well and is making a contribution to cost 
reduction.

Sale of power continues to make a substantial contribution to results.

Page 11<PAGE>
Selling, administrative and general expenses were 6% of sales in fiscal 1995 
and 7% of sales in fiscal 1994.  Interest expensed increased 21% in fiscal 
1995 as compared with fiscal 1994 due to higher borrowing for capital 
expenditures and higher interest rates.

The current market for the company's manufactured products is somewhat weak.  
While this may be due in part to user's inventory corrections, the question 
remains how soon the market will recover.  The company will seek to keep 
prices above costs as this is in the best long-term interest of our customers. 
Log markets are expected to remain strong.  Chip costs should respond 
favorably to lower industry demand.

LIQUIDITY AND CAPITAL RESOURCES

Cash provided by operations held steady in fiscal 1996 compared with fiscal 
1995 despite lower earnings.

Working capital was $50,974,000 at October 31, 1996 compared to $42,559,000 at 
October 31, 1995.

Long-term debt, current installments of long-term debt and short-term 
borrowings increased by $18,881,000 in fiscal 1996 due to capital spending.

At October 31, 1996, the company had bank lines of credit totaling 
$328,000,000.  Of this amount, $186,000,000 was under a credit agreement with 
a group of banks expiring February 28, 1998, with renewal provisions beyond 
that date.  The company had outstanding $160,000,000 of notes payable under 
this agreement at October 31, 1996.  Also available were $142,000,000 of bank 
credit lines for additional borrowing needs.  At October 31, 1996, the company 
had an outstanding balance of $101,000,000 under these credit lines.  The 
unused portion of all bank lines of credit was $67,000,000 as of October 31, 
1996, which is adequate for anticipated future needs. 

Also outstanding at October 31, 1996 were senior notes of $208,000,000 and 
revenue bonds of $28,900,000.  For further details regarding borrowing, see 
Notes 5 and 6 of Item 8 of this Form 10-K. 
 
Expenditures for fiscal 1996 were $127,558,000 for plant and equipment and 
$3,822,000 for timberlands.  Expenditures for fiscal 1995 for plant and 
equipment were $138,613,000 and for timberland $35,046,000.  The backlog of 
approved capital projects as of October 31, 1996 was $103,000,000.  

The company is well along in major modernization of its box plants, which are 
now some of the best equipped in the United States.  Modernization will 
continue at a slower pace.

Paper products that were satisfactory in the past are becoming increasingly 
obsolete as converting machinery speeds up and printing gets more elaborate.  
Hence, major paper mill projects are now being undertaken which will improve 
quality and capability to make diverse grades, reduce costs and modestly 
increase capacity.  This is expected to be a heavy program for the next few 
years.  In January 1997, we will start a two-month rebuild of No. 11 Machine 
to make extensible bag papers.

Page 12<PAGE>
Capital expenditures for plant and equipment are expected to average 
$120,000,000 per year.  Purchase of timberlands will depend on offerings, 
price levels and competition.  These expenditures will be financed principally 
from internally generated funds supplemented, if necessary, by modest 
additional borrowing (see Notes 5 and 6 of Item 8 of this Form 10-K).

During fiscal 1996, the company purchased 45,455 shares of its stock for an 
average price of $16.37 per share.  During fiscal 1995, the company purchased 
79,265 shares for an average price of $16.68 per share.  Purchases began in 
1964; the total number of shares acquired through fiscal 1996 is 21,374,623 
shares for $96,572,425 at an average cost of $4.52 per share.  Stock purchases 
increase interest costs and thus reduce corporate earnings.  In most years 
when earnings are good, they increase earnings per share.  In a bad year, the 
interest cost can decrease earnings per share slightly.

Dividends of $.64 and $.60 per share were paid in fiscal 1996 and 1995, 
respectively.  Shareholders' equity increased $22,513,000 in fiscal 1996, as 
compared with an increase of $43,646,000 in fiscal 1995.

It is expected that near-term capital expenditures will be financed 
principally from internally generated funds supplemented, if necessary, by 
modest additional borrowing.

OTHER

The company continually reviews any known environmental exposures including 
the costs of remediation.  At the present time, the company is not aware of 
any environmental liabilities that would have a material impact on the 
consolidated financial statements.

The company believes it is in substantial compliance with Federal, State and 
local laws regarding environmental quality.  The Environmental Protection 
Agency (EPA) has issued proposed rules regarding air and water quality 
referred to as the "Cluster Rules" which are currently undergoing public 
review.  Depending upon the final form of these rules, the company estimates 
that over the next 4 to 5 years required pollution control capital 
expenditures could range from $10 million to $50 million.  Although future 
pollution control expenditures cannot be predicted with any certainty because 
of continuing changes in laws, the company believes that compliance with these 
requirements will not have a material impact on its capital expenditures, 
earnings or competitive position.

The company's consolidated financial statements are prepared based on 
historical costs and do not portray the effects of inflation.  The impact of 
inflation is most noticeable for inventories and capital assets, although most 
of the inflationary effect on inventories is already portrayed in the 
consolidated income statement by the use of the LIFO method of inventory 
valuation.

Page 13<PAGE>
ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

INDEX TO FINANCIAL STATEMENTS

                                                                   PAGE
Financial Statements:

Report of Independent Accountants . . . . . . . . . . . . . . . . .  14
Consolidated Statement of Income for the
   three years ended October 31, 1996 . . . . . . . . . . . . . . .  15
Consolidated Statement of Shareholders' 
   Equity for the three years ended October 31, 1996. . . . . . . .  15
Consolidated Balance Sheet at October 31,
   1996, 1995 and 1994. . . . . . . . . . . . . . . . . . . . . . .  16
Consolidated Statement of Cash Flows for
   the three years ended October 31, 1996 . . . . . . . . . . . . .  17
Notes to Consolidated Financial Statements. . . . . . . . . . . . .  18

Financial Statement Schedules:

  Schedules have been omitted because they are not applicable or the required
  information is shown in the consolidated financial statements or notes 
  thereto of this Form 10-K.

REPORT OF INDEPENDENT ACCOUNTANTS

To the Board of Directors and Shareholders of
Longview Fibre Company

In our opinion, the consolidated financial statements listed in the 
accompanying index present fairly, in all material respects, the financial 
position of Longview Fibre Company and its subsidiaries at October 31, 1996, 
1995 and 1994, and the results of their operations and their cash flows for 
each of the three years in the period ended October 31, 1996, in conformity 
with generally accepted accounting principles.  These financial statements are 
the responsibility of the Company's management; our responsibility is to 
express an opinion on these financial statements based on our audits.  We 
conducted our audits of these statements in accordance with generally accepted 
auditing standards which require that we plan and perform the audits to obtain 
reasonable assurance about whether the financial statements are free of 
material misstatement.  An audit includes examining, on a test basis, evidence 
supporting the amounts and disclosures in the financial statements, assessing 
the accounting principles used and significant estimates made by management, 
and evaluating the overall financial statement presentation.  We believe that 
our audits provide a reasonable basis for the opinion expressed above.
  

\s\ Price Waterhouse LLP
Price Waterhouse LLP
    
Portland, Oregon
December 9, 1996

Page 14<PAGE>
CONSOLIDATED STATEMENT OF INCOME                                              
 
                                                    Years Ended October 31

(thousands except per share)                        1996       1995      1994
NET SALES. . . . . . . . . . . . . . . . . . .  $822,722   $985,515  $790,874
      Timber . . . . . . . . . . . . . . . . .   186,405    207,735   197,978
      Paper and paperboard . . . . . . . . . .   199,827    308,356   223,920
      Converted products . . . . . . . . . . .   436,490    469,424   368,976
Cost of products sold, including
 outward freight . . . . . . . . . . . . . . .   657,737    778,032   659,309
GROSS PROFIT . . . . . . . . . . . . . . . . .   164,985    207,483   131,565
Selling, administrative and general expenses .    60,199     59,709    54,769
OPERATING PROFIT . . . . . . . . . . . . . . .   104,786    147,774    76,796
      Timber . . . . . . . . . . . . . . . . .   104,449    121,738   111,907
      Paper and paperboard . . . . . . . . . .     4,300      7,442   (15,703)
      Converted products . . . . . . . . . . .    (3,963)    18,594   (19,408)
Interest income. . . . . . . . . . . . . . . .       611        594       539
Interest expensed. . . . . . . . . . . . . . .   (29,506)   (29,447)  (24,384)
Miscellaneous. . . . . . . . . . . . . . . . .    10,973      1,318     1,363
INCOME BEFORE INCOME TAXES . . . . . . . . . .    86,864    120,239    54,314
PROVISION FOR TAXES ON INCOME (see Note 10)                          
Current. . . . . . . . . . . . . . . . . . . .    14,861     29,049    15,748
Deferred . . . . . . . . . . . . . . . . . . .    15,639     15,151     5,152
                                                  30,500     44,200    20,900
                                                                             
NET INCOME . . . . . . . . . . . . . . . . . .  $ 56,364   $ 76,039  $ 33,414
      Per share. . . . . . . . . . . . . . . .  $   1.09   $   1.47  $   0.64


CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY                            
                                        
(thousands)                                         1996       1995      1994
COMMON STOCK:
      Balance at beginning of year . . . . . .  $ 77,627   $ 77,745  $ 77,823
      Ascribed value of stock purchased. . . .       (69)      (118)      (78)
      Balance at end of year . . . . . . . . .  $ 77,558   $ 77,627  $ 77,745
ADDITIONAL PAID-IN CAPITAL:
      Balance at beginning of year . . . . . .  $  3,306   $  3,306  $  3,306 
      Balance at end of year . . . . . . . . .  $  3,306   $  3,306  $  3,306 
RETAINED EARNINGS:
      Balance at beginning of year . . . . . .  $366,966   $323,202  $317,666
      Net income . . . . . . . . . . . . . . .    56,364     76,039    33,414
      Less cash dividends on common stock
        ($0.64, $0.60, $0.52 per share, 
         respectively) . . . . . . . . . . . .   (33,107)   (31,070)  (26,968)
      Less purchases of common stock . . . . .      (675)    (1,205)     (910)
      Balance at end of year . . . . . . . . .  $389,548   $366,966  $323,202 
COMMON SHARES:
      Balance at beginning of year . . . . . .    51,751     51,830    51,882
      Purchases. . . . . . . . . . . . . . . .       (45)       (79)      (52)
      Balance at end of year . . . . . . . . .    51,706     51,751    51,830

The accompanying notes are an integral part of the financial statements.

Page 15<PAGE>
CONSOLIDATED BALANCE SHEET

                                                           October 31

(dollars in thousands except per share)             1996       1995       1994
ASSETS
Current assets:
Accounts and notes receivable. . . . . . . .  $   99,147 $  118,164 $  101,190
  Allowance for doubtful accounts. . . . . .       1,100      1,100      1,000
Inventories (see Note 2) . . . . . . . . . .      93,718     82,534     67,305
Other. . . . . . . . . . . . . . . . . . . .      11,923      9,372      7,597
            Total current assets . . . . . .     203,688    208,970    175,092 
Capital assets:
Buildings, machinery and equipment at cost .   1,456,432  1,355,740  1,230,784
  Accumulated depreciation . . . . . . . . .     710,946    655,822    599,342
    Costs to be depreciated in future                                     
     years (see Note 3). . . . . . . . . . .     745,486    699,918    631,442
Plant sites at cost. . . . . . . . . . . . .       2,909      2,834      2,423
                                                 748,395    702,752    633,865
Timber at cost less depletion. . . . . . . .     177,683    178,494    158,659
Roads at cost less amortization. . . . . . .       8,956      9,291      9,415
Timberland at cost . . . . . . . . . . . . .      16,103     16,049     13,570
                                                 202,742    203,834    181,644
            Total capital assets . . . . . .     951,137    906,586    815,509
Other assets . . . . . . . . . . . . . . . .      42,455     38,267     31,448
                                              $1,197,280 $1,153,823 $1,022,049

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Payable to bank resulting from
 checks in transit . . . . . . . . . . . . .  $   13,031 $   10,272 $   12,505
Accounts payable . . . . . . . . . . . . . .      44,533     60,730     52,361
Short-term borrowings (see Note 5) . . . . .      38,000     36,000      1,000
Payrolls payable . . . . . . . . . . . . . .      11,125     10,703      9,862
Federal income taxes payable . . . . . . . .           -      2,475      2,929 
Other taxes payable. . . . . . . . . . . . .      11,906     12,112     14,680
Current installments of long-term debt . . .      34,119     34,119     45,994
            Total current liabilities  . . .     152,714    166,411    139,331
Long-term debt (see Note 6). . . . . . . . .     426,255    409,374    366,492
Deferred taxes - net (see Note 10) . . . . .     135,106    119,205    103,234
Other liabilities. . . . . . . . . . . . . .      12,793     10,934      8,739
Commitments (see Note 13). . . . . . . . . .         -          -            - 
Shareholders' equity: 
Preferred stock; authorized 2,000,000 shares         -          -            -
Common stock, ascribed value $1.50 per share;
 authorized 150,000,000 shares; issued
 51,705,577, 51,751,032 and 51,830,297
 shares, respectively (see Note 12). . . . .      77,558     77,627     77,745
Additional paid-in capital . . . . . . . . .       3,306      3,306      3,306 
Retained earnings. . . . . . . . . . . . . .     389,548    366,966    323,202
            Total shareholders' equity . . .     470,412    447,899    404,253
                                              $1,197,280 $1,153,823 $1,022,049

The accompanying notes are an integral part of the financial statements.

Page 16<PAGE>
CONSOLIDATED STATEMENT OF CASH FLOWS
                                                   Years Ended October 31

(thousands)                                        1996      1995      1994
CASH PROVIDED BY (USED FOR) OPERATIONS:
Net income . . . . . . . . . . . . . . . . .   $ 56,364  $ 76,039  $ 33,414
Charges to income not requiring cash:
   Depreciation  . . . . . . . . . . . . . .     74,709    66,719    62,144
   Depletion and amortization  . . . . . . .      4,745    12,684    10,546
   Deferred taxes - net  . . . . . . . . . .     15,901    15,971     5,541
   Loss on disposition of capital assets . .      5,762     1,428     2,679

Change in:
   Accounts and notes receivable - net . . .     19,017   (16,874)  (18,627)
   Inventories . . . . . . . . . . . . . . .    (11,184)  (15,229)   (7,631)
   Other . . . . . . . . . . . . . . . . . .     (2,551)   (1,775)     (516)
   Other noncurrent assets . . . . . . . . .     (4,188)   (6,819)   (2,523)
   Accounts, payrolls and other 
     taxes payable . . . . . . . . . . . . .    (16,109)    7,886     7,075
   Federal income taxes payable. . . . . . .     (2,475)     (454)    1,427 
   Other noncurrent liabilities. . . . . . .      1,859     2,195     2,350 
Cash provided by operations. . . . . . . . .    141,850   141,771    95,879 

CASH PROVIDED BY (USED FOR) INVESTING:
Additions to:  Plant and equipment.. . . . .   (127,558) (138,613)  (81,544)
               Timber and timberlands. . . .     (3,822)  (35,046)  (43,494)
Proceeds from sale of capital assets . . . .      1,613     1,751     1,290
Cash used for investing. . . . . . . . . . .   (129,767) (171,908) (123,748)

CASH PROVIDED BY (USED FOR) FINANCING:
Additions to long-term debt. . . . . . . . .     51,000    77,000    85,000
Reduction in long-term debt. . . . . . . . .    (34,119)  (45,993)  (19,943)
Short-term borrowings. . . . . . . . . . . .      2,000    35,000   (19,000)
Payable to bank resulting from
 checks in transit . . . . . . . . . . . . .      2,759    (2,233)    4,142
Accounts payable for construction. . . . . .        128    (1,244)    5,626
Cash dividends . . . . . . . . . . . . . . .    (33,107)  (31,070)  (26,968)
Purchase of common stock . . . . . . . . . .       (744)   (1,323)     (988)
Cash provided by (used for) financing. . . .    (12,083)   30,137    27,869 

Change in cash position. . . . . . . . . . .        -         -         -
Cash position, beginning of year . . . . . .        -         -         -     
Cash position, end of year . . . . . . . . .   $    -    $    -    $    -   

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the year for:
 Interest (net of amount capitalized)  . . .   $ 30,023  $ 28,718  $ 23,912
 Capitalized interest  . . . . . . . . . . .      3,230     3,442     1,486
 Income taxes  . . . . . . . . . . . . . . .     19,625    30,109    14,500

The accompanying notes are an integral part of the financial statements.

Page 17<PAGE>
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF ACCOUNTING POLICIES:

PRINCIPLES OF CONSOLIDATION
The financial statements include the accounts of the company and all 
subsidiaries after elimination of intercompany balances and transactions.

INVENTORIES
Inventories are stated at the lower of cost or market.  Cost is determined on 
a last-in, first-out method except for supplies at current averages.

PROPERTY AND DEPRECIATION
Buildings, machinery and equipment are recorded at cost and include those 
additions and improvements that add to production capacity or extend useful 
life.  Cost includes interest capitalized during the construction period on 
all significant asset acquisitions.  When properties are sold or otherwise 
disposed, the cost and the related accumulated depreciation are removed from 
the respective accounts and the resulting profit or loss is recorded in 
income.  The costs of maintenance and repairs are charged to income when 
incurred.

Depreciation for financial accounting purposes is computed on the straight-
line basis over the estimated useful lives of the assets.  The estimated 
useful lives of assets range from 20 to 60 years for buildings and principally 
from 12 to 16 years for machinery and equipment.

TIMBERLANDS, DEPLETION AND AMORTIZATION
Timber, timberlands and timber roads are stated at cost.  Provision for 
depletion of timber and amortization of logging roads represents charges per 
unit of  production (footage cut) based on the estimated recoverable timber. 
No gain or loss is recognized on timberland exchanges since the earnings 
process is not considered complete until timber is harvested and marketed.

EARNINGS PER SHARE
Net income per common share is computed on the basis of weighted average 
shares outstanding of 51,731,407, 51,786,698, and 51,861,365 for 1996, 1995 
and 1994, respectively.

PENSION AND OTHER BENEFIT PLAN COSTS
The company's policy is to accrue as cost an amount computed by the actuary 
and to fund at least the minimum amount required by ERISA.

REVENUE RECOGNITION
The company generally recognizes revenues when goods are shipped.

MISCELLANEOUS INCOME
In fiscal 1996, $9,470,000 was recorded as miscellaneous income as 
consideration for the termination of an electrical power sales agreement.

Page 18<PAGE>
NOTE 2 - INVENTORIES:
Inventories consist of the following:
                                             October 31
(thousands)                           1996       1995         1994
Finished goods  . . . . . . . .   $ 39,962    $ 38,973    $ 33,254
Goods in process. . . . . . . .     33,632      39,905      25,332
Raw materials and supplies. . .     22,505      35,350      17,516
Supplies (at average cost). . .     45,236      38,707      36,908
                                   141,335     152,935     113,010
LIFO Reserve. . . . . . . . . .    (47,617)    (70,401)    (45,705)
                                  $ 93,718    $ 82,534    $ 67,305


NOTE 3 - BUILDINGS, MACHINERY AND EQUIPMENT:
At cost - net of accumulated depreciation consist of the following:

                                             October 31
(thousands)                           1996        1995        1994 
Buildings - net . . . . . . . .   $ 61,914    $ 54,115    $ 46,963
Machinery and equipment - net .    683,572     645,803     584,479
                                  $745,486    $699,918    $631,442


NOTE 4 - SUPPLEMENTAL EXPENSE INFORMATION:

(thousands)                                1996       1995       1994
Maintenance & repairs. . . . . . . .    $83,440    $78,557    $68,795
Taxes, other than income taxes:
      Payroll. . . . . . . . . . . .     12,279     11,873     10,949
      Property . . . . . . . . . . .      9,858      9,392     10,114
      Sales and use. . . . . . . . .      3,423      4,227      3,866
      Other. . . . . . . . . . . . .      8,050     10,650     10,706
Research and development . . . . . .        660        570        471

NOTE 5 - SHORT-TERM BORROWINGS:
At October 31, 1996, the company had bank lines of credit totaling $328 
million.  Of this amount, $186 million was under a credit agreement with a 
group of banks providing various methods of borrowing.  The agreement provides 
for borrowings at the Euro Dollar Rate plus 0.325% or the bank's prime rate, 
whichever the company selects.  Also, the company can request a "Competitive 
Bid" specifying dollar amounts and loan duration.  The various banks may then 
bid, specifying rates and amounts, which the company may accept or reject.  
The credit agreement contains certain financial covenants and provides for a 
0.175% facility fee.  This agreement has an expiration date of February 28, 
1998 with renewal provisions beyond that date.  At October 31, 1996, the 
company had loans of $160 million under the credit agreement.

Also available was a bank credit agreement providing committed lines of credit 
totaling $55 million.  The agreement provides for a nominal commitment fee and 
expires November 1, 1998 with renewal provisions beyond that date.  At October 
31, 1996 the company had loans of $45 million under this credit agreement.

Other bank credit lines totaling $87 million were available for additional 
borrowing needs. Included in this amount were committed lines of credit of $20 
million and $10 million both of which expire March 31, 1998.  The other $57 
million is uncommitted.  At October 31, 1996, the company had an outstanding 
balance of $56 million under these credit lines.

Page 19<PAGE>
Short-term borrowings of $223 million, $222 million and $205 million at 
October 31, 1996, 1995 and 1994, respectively, under the above agreements, 
have been reclassified as long-term debt because they are to be renewed and 
replaced with borrowings due beyond one year and into future periods.

Short-term borrowing activity including the amount reclassified as long-term 
is summarized as follows:

(thousands)                            1996        1995        1994
Notes payable October 31 . . . .   $261,000    $258,000    $206,000
Interest rate October 31 . . . .       5.9%        6.4%        5.6%
Average daily amount of
 notes payable outstanding
 during year . . . . . . . . . .   $253,893    $250,512    $196,547
Average* interest rate
 during year . . . . . . . . . .       6.1%        6.5%        4.6%
Maximum amount of notes
 payable at any month end. . . .   $274,000    $272,000    $213,000

*Computed by dividing interest incurred by average notes payable outstanding.


NOTE 6 - LONG-TERM DEBT:
Long-term debt consists of the following:

                                                October 31
(thousands)                             1996        1995        1994
Senior notes due through 2004
 (6.17%-9.80%) - Note (a) . . . .   $208,000    $192,000    $177,875
Revenue bonds payable through
 2015 (floating rates, currently
 3.55%-3.85%) - Note (b) . . . . .    28,900      28,900      28,900
Other. . . . . . . . . . . . . .         474         593         711   
Notes payable - banks -
 Note 5 above . . . . . . . . . .    223,000     222,000     205,000
                                     460,374     443,493     412,486
    Less current installments . .     34,119      34,119      45,994
Net long-term debt. . . . . . . .   $426,255    $409,374    $366,492

Scheduled maturities
        1998            $237,119
        1999              30,118
        2000              30,118
        2001              40,000
        2002-2015         88,900
                        $426,255

Note (a) Covenants of the senior notes include tests of minimum net worth, 
short-term borrowing, long-term borrowing, current ratio and restrictions on 
payments of dividends.  Accordingly, at October 31, 1996, approximately $77 
million of consolidated retained earnings was unrestricted as to the payment 
of dividends.

Note (b) Primarily incurred upon the purchase of manufacturing equipment.  At 
October 31, 1996, $28,900,000 was secured by liens on the equipment. 

Page 20<PAGE>
NOTE 7 - FAIR VALUE OF FINANCIAL INSTRUMENTS:
Accounts receivable, revenue bonds and notes payable to banks approximate fair 
value as reported in the balance sheet.  The fair value of senior notes is 
estimated using discounted cash flow analyses, based on the company's 
incremental borrowing rates for similar types of borrowing arrangements.  The 
fair value of the company's long-term debt exceeded the stated value by 
approximately $2 million and $7 million at October 31, 1996 and 1995, 
respectively.  The difference between the fair value of the company's long-
term debt and the stated value was not material at October 31, 1994.

NOTE 8 - RETIREMENT AND SAVINGS PLANS:
The company has two trusteed defined benefit pension programs which cover a 
majority of employees who have completed one year of continuous service.  The 
plans provide benefits of a stated amount for each year of service with an 
option for some employees to receive benefits based on an average earnings 
formula. 

The weighted-average discount rate and rate of increase in the future 
compensation levels used in determining the actuarial present value of the 
projected benefit obligation was 7.5% and 5.25% for 1996 and 8% and 5.25% for 
1995 and 1994.  The expected long-term rate of return on assets was 9%.

The following table sets forth the plans' funded status and amounts recognized 
in the company's consolidated financial statements at October 31:

(thousands)                               1996         1995         1994
Actuarial present value of benefit
 obligations:
   Vested . . . . . . . . . . . . .   $155,770     $139,308     $132,175
   Vested and nonvested . . . . . .   $156,317     $140,608     $133,190
   Projected for service 
     rendered . . . . . . . . . . .   $184,079     $165,042     $157,549
Plan assets at fair value,
 primarily listed stocks. . . . . .    311,548      269,785      237,109
Excess plan assets. . . . . . . . .    127,469      104,743       79,560
Items not recognized in earnings:
 Net (asset) at adoption of FAS 87.     (6,056)      (7,425)      (8,795)
 Unrecognized prior service cost. .     16,698       20,699       24,363
 Unrecognized net (gain) .  . . . .   (107,542)     (91,950)     (71,034)
Pension asset recognized in the
 consolidated balance sheet . . . .   $ 30,569     $ 26,067     $ 24,094

Net pension (income) includes
 the following:
   Service cost . . . . . . . . . .   $  4,557     $  4,220     $  4,334
   Interest cost. . . . . . . . . .     12,824       12,211       10,800
   Actual (return) on plan assets .    (51,069)     (41,199)      (8,920)
   Net amortization and deferral. .     29,186       22,795       (7,711)

Net pension (income). . . . . . . .   $ (4,502)    $ (1,973)    $ (1,497)

Voluntary savings plans are maintained for all employees who have completed 
one year of continuous service.  The plans allow salary deferrals in 
accordance with IRC section 401(k) provisions.  The company contribution as a 
matching incentive during 1996, 1995 and 1994 was $1,199,000, $1,151,000 and 
$916,000, respectively.

Page 21<PAGE>
NOTE 9 - POSTRETIREMENT BENEFITS OTHER THAN PENSIONS:
The company provides postretirement health care insurance benefits for all 
salaried and certain non-salaried employees and their dependents.  Individual 
benefits generally continue until age 65.  The company does not pre-fund these 
benefits.

Postretirement benefit expense was $2,271,000, $2,589,000, and $2,679,000 in 
1996, 1995 and 1994, respectively.

The components of expense were as follows:

(thousands)                                    1996    1995    1994	
Service cost . . . . . . . . . . . . . . .   $  545  $  717  $  850	
Interest cost. . . . . . . . . . . . . . .    1,227   1,373   1,331
Amortization of transition obligation. . .      499     499     498
Net periodic postretirement benefit cost .   $2,271  $2,589  $2,679


The accumulated postretirement benefit obligation consists of the following:

(thousands)                                     1996      1995      1994
Retirees . . . . . . . . . . . . . . . . .  $ (2,954) $ (3,448) $ (2,658)
Fully eligible active plan participants. .    (3,817)   (3,836)   (3,898)
Other active plan participants . . . . . .   (10,494)  (11,519)  (11,833)
Total accumulated postretirement	
  benefit obligation . . . . . . . . . . .   (17,265)  (18,803)  (18,389)
Unrecognized net(gain)loss . . . . . . . .    (3,440)     (606)      676
Unrecognized transition obligation . . . .     7,976     8,475     8,974
Accrued postretirement benefit cost. . . .  $(12,729) $(10,934) $ (8,739)


The net periodic postretirement benefit cost was calculated using a health 
care cost trend rate of 13% for the indemnity plan and 7.5% for the HMO plan. 
The accrued postretirement benefit cost at October 31, 1996 was calculated 
using a health care cost trend rate of 10% for the indemnity plan and 7.5% for 
the HMO plan.  The trend rate declines each year until the ultimate health 
care cost trend rate, 5.5% if reached in the year 2003 for the indemnity plan 
and the year 1999 for the HMO plan.  A one percent change in the health care 
cost trend rate assumption has a $1,053,000 effect on the accumulated 
postretirement benefit obligation as of October 31, 1996 and a $149,000 effect 
on the net periodic postretirement benefit cost.  The weighted-average 
discount rate used was 7.5% at October 31, 1996 and 8% at October 31, 1995 and 
1994.

NOTE 10 - INCOME TAXES:
Provision for taxes on income is made up of the following components:

(thousands)                                1996       1995       1994
Current:
  Federal. . . . . . . . . . . . . .    $13,452    $26,495    $14,553
  State. . . . . . . . . . . . . . .      1,409      2,554      1,195
                                         14,861     29,049     15,748
Deferred:
  Federal. . . . . . . . . . . . . .     15,348     14,405      4,647
  State. . . . . . . . . . . . . . .        291        746        505
                                         15,639     15,151      5,152
                                        $30,500    $44,200    $20,900

Page 22<PAGE>
An analysis of the effective income tax rate as compared to the expected
federal income tax rate is as follows:

                                           1996       1995       1994
Expected federal income tax rate . .        35%        35%        35%
Foreign Sales Corporation. . . . . .         -         (1)         -
State income taxes less
  federal income tax benefit . . . .         1          2          2
Other. . . . . . . . . . . . . . . .        (1)         1          1  
                                            35%        37%        38%

The deferred income tax liabilities (assets) recorded in the Consolidated
Balance Sheet as of October 31, are as follows:

(thousands)                                   1996      1995      1994
Current: 
  Non-deductible accruals. . . . . .      $ (6,153) $ (5,891) $ (5,071)

Non-current:
  Depreciation . . . . . . . . . . .      $139,951  $135,146  $128,371        
  Employee Benefit Plans . . . . . .        11,219     9,648     8,917
  Alternative Minimum Tax. . . . . .       (10,042)  (20,547)  (26,844)
  Other. . . . . . . . . . . . . . .        (6,022)   (5,042)   (7,210)
  Non-current deferred tax . . . . .      $135,106  $119,205  $103,234

Federal income tax returns through 1991 have been settled with the Internal 
Revenue Service.


NOTE 11 - SEGMENT INFORMATION:
The company owns and operates tree farms in Oregon and Washington which 
produce logs for sale.  Its pulp and paper mill at Longview, Washington 
produces pulp which is manufactured into kraft paper and containerboard.  The 
raw material fibers come primarily from purchased wood chips and sawdust with 
important contributions from fiber reclaimed from post-consumer and post-
industrial waste, purchased bleach pulp, and augmented by log chipping 
operations owned by the company and others.  The company's fifteen converting 
plants in ten states produce shipping containers, and merchandise and grocery 
bags.  The tonnage of paper and containerboard used in the converting plants 
equals approximately 66% of the Longview mill production.

Included in sales to customers are export sales, principally to Japan, Hong 
Kong and Southeast Asia in 1996, 1995 and 1994 of $153,878,000, $229,984,000 
and $161,622,000, respectively.  All sales are made in U. S. dollars.

There are no intersegment sales as all manufacturing operations to produce 
primary or converted products for sale are considered integrated from the 
purchased wood to the sale of the finished product.

Identifiable assets are segregated or allocated to segments as follows:

  1.  Assets used wholly within a segment are assigned to that segment.

Page 23<PAGE>
  2.  Assets used jointly by two segments are allocated to each segment on a
      percentage determined by dividing total cost of product into cost of
      product produced for each segment.  Paper and paperboard assets of 
      $306,101,000, $253,674,000 and $252,844,000 have been allocated to
      converted products at October 31, 1996, 1995 and 1994, respectively.

Depreciation, depletion and amortization and additions to capital assets have 
been segregated and allocated similarly to the method used for identifiable 
assets.

(thousands)                                   1996       1995       1994 
SALES TO CUSTOMERS:
Timber . . . . . . . . . . . . . . .    $  186,405 $  207,735   $197,978
Paper and paperboard . . . . . . . .       199,827    308,356    223,920
Converted products . . . . . . . . .       436,490    469,424    368,976
  Total. . . . . . . . . . . . . . .       822,722    985,515    790,874
INCOME (LOSS) ON SALES:
Timber . . . . . . . . . . . . . . .       104,449    121,738    111,907
Paper and paperboard . . . . . . . .         4,300      7,442    (15,703)
Converted products . . . . . . . . .        (3,963)    18,594    (19,408)
Interest expensed and other. . . . .       (17,922)   (27,535)   (22,482)
  Income before income taxes . . . .        86,864    120,239     54,314
IDENTIFIABLE ASSETS AT OCTOBER 31:
Timber . . . . . . . . . . . . . . .       255,529    254,586    225,656
Paper and paperboard . . . . . . . .       279,383    313,778    304,819
Converted products . . . . . . . . .       662,368    585,459    491,574
  Total. . . . . . . . . . . . . . .     1,197,280  1,153,823  1,022,049
DEPRECIATION, DEPLETION AND
AMORTIZATION:
Timber . . . . . . . . . . . . . . .         7,921     15,740     13,350
Paper and paperboard . . . . . . . .        20,201     22,964     21,767
Converted products . . . . . . . . .        51,332     40,699     37,573
  Total. . . . . . . . . . . . . . .        79,454     79,403     72,690
ADDITIONS TO CAPITAL ASSETS:
Timber . . . . . . . . . . . . . . .         7,939     38,289     48,810
Paper and paperboard . . . . . . . .        29,552     26,721     19,890
Converted products . . . . . . . . .        93,889    108,649     56,338
  Total. . . . . . . . . . . . . . .    $  131,380 $  173,659  $ 125,038


NOTE 12 - SHAREHOLDER RIGHTS PLAN:
On December 6, 1996, the company's Board of Directors amended the Shareholder 
Rights Plan by lowering the ownership and tender offer thresholds triggering a 
distribution of the rights certificates under the rights agreement.  With 
certain exceptions, the rights will become exercisable only in the event that 
an acquiring party accumulates 10% or more of the company's voting stock or a 
party announces an offer to acquire 10% or more of the voting stock.  The 
rights expire on March 1, 1999, if not previously redeemed or exercised.  Each 
right entitles the holder to purchase one-tenth of one common share at a price 
of $4.00 ($40 per whole share), subject to adjustment under certain 
circumstances.  In addition, upon the occurrence of certain events, holders of 
the rights will be entitled to purchase a defined number of shares of an 
acquiring entity or the company's common shares at half their then current 
market value.  The company will generally be entitled to redeem the rights at 
$0.01 per right at any time until the tenth business day following the 
acquisition of 10% or more, or an offer to acquire 10% or more, of the 
company's voting stock.

Page 24<PAGE>
NOTE 13 - COMMITMENTS AND CONTINGENCIES:
Estimated costs to complete approved capital projects were approximately $103 
million, $93 million and $65 million at October 31, 1996, 1995 and 1994, 
respectively.


QUARTERLY FINANCIAL DATA (UNAUDITED)

                                      Fiscal Year Quarters               Total
                                                                        Fiscal
(thousands except per share)      1st       2nd       3rd       4th       Year 

1996
Net sales. . . . . . . . . .  $209,213  $199,716  $197,593  $216,200  $822,722 
Gross profit . . . . . . . .    46,767    38,077    33,228    46,913   164,985
Net income . . . . . . . . .    15,539    10,035    13,924    16,866    56,364
Net income per share (1) . .      0.30      0.19      0.27      0.33      1.09

1995
Net sales. . . . . . . . . .  $227,519  $234,215  $253,363  $270,418  $985,515
Gross profit . . . . . . . .    48,051    57,697    51,436    50,299   207,483
Net income . . . . . . . . .    16,548    22,542    18,912    18,037    76,039
Net income per share (1) . .      0.32      0.43      0.37      0.35      1.47

1994
Net sales  . . . . . . . . .  $166,085  $189,183  $207,341  $228,265  $790,874
Gross profit . . . . . . . .    21,360    40,101    32,184    37,920   131,565
Net income . . . . . . . . .     1,778    13,986     7,491    10,159    33,414 
Net income per share (1) . .      0.03      0.27      0.14      0.20      0.64

(1) Per share statistics have been computed on the average of number of shares 
outstanding in the hands of the public.  Per share statistics for the first
three quarters may vary slightly from amounts reported on an interim basis due 
to changes in the number of shares outstanding.

Page 25<PAGE>
ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND   
FINANCIAL DISCLOSURE

There has been no change of accountants or disagreements on any matter of 
accounting principles, practices or financial statement disclosures required 
to be reported under this item.
                                

                            PART III

ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

Item 10 is contained in the Notice of Annual Meeting of Shareholders and Proxy 
Statement which is incorporated as part of this Form 10-K.  See Part I of this 
Form 10-K for a listing of the executive officers of the company.

ITEM 11.  EXECUTIVE COMPENSATION

This item is completed by reference to Notice of Annual Meeting of 
Shareholders and Proxy Statement which is incorporated as part of this Form 
10-K.

ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

This item is completed by reference to Notice of Annual Meeting of 
Shareholders and Proxy Statement which is incorporated as part of this Form 
10-K.                             

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

(a)  Transactions with management and others.  There have been no known       
     transactions in an amount in excess of $60,000 involving any of the      
     specified persons.

(b)  Certain business relationships.  No director or nominee for director is  
     known to be involved in any of the specified relationships with the      
     company.

(c)  Indebtedness of management.  None of the specified persons is indebted to 
     the company in an amount in excess of $60,000.


                                  PART IV

ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

(a)  The following financial statements, schedules and exhibits are filed as
     part of this Form 10-K.

     (1)  Financial Statements:

          The 1996, 1995 and 1994 consolidated financial statements are       
          included in Item 8 of this Form 10-K.

          The individual financial statements of the company have been omitted
          since the company is primarily an operating company and all

Page 26<PAGE>
          subsidiaries included in the consolidated financial statements, in  
          the aggregate, do not have minority equity interest and/or          
          indebtedness to any person other than the company or its            
          consolidated subsidiaries in amounts which together exceed 5% of    
          total consolidated assets at October 31, 1996.

     (2)  Financial Statement Schedules:

          Schedules have been omitted because they are not applicable or the  
          required information is shown in the consolidated financial         
          statements or notes thereto in Item 8 of this Form 10-K.

     (3)  Exhibits required to be filed by Item 601 of Regulation S-K:  

          3.1  Articles of Incorporation of Longview Fibre Company   (c)

          3.2  Bylaws of Longview Fibre Company   (c)                  

          4.1  Commercial Paper Facility   (a)

          4.2  Rights Agreement   (b)

          4.3  First Amendment to Rights Agreement   (g)

          4.7  Long-term debts that do not exceed 10% of the total assets of  
               the company, details of which will be supplied to the          
               Commission upon request:
  
               Senior Notes due through 2004 (6.17% - 9.80%)      $208,000,000

               Revenue Bonds payable through 2015 (floating rates,
               3.55% through 3.85% at October 31, 1996)           $ 28,900,000

               Other                                              $    474,000

         10.1  Form of Termination Protection Agreement   (e)(*)

         10.2  $170,000,000 Credit Agreement   (d)

         10.3  First Amendment to Credit Agreement   (d)

         10.4  Second Amendment to Credit Agreement  (e)

         10.5  Third Amendment to Credit Agreement   (e)

         10.6  Fourth Amendment to Credit Agreement  (f)

         10.7  Fifth Amendment to Credit Agreement

         23    Consent of Independent Accountants

         27    Financial Data Schedule

         99.1  Salary Savings Plan - Amendment No. 1   (e)

         99.2  Salary Savings Plan - Amendment No. 2   (e)
         
Page 27<PAGE>
         99.3  Salary Savings Plan - Amendment No. 3   (e)

         99.4  Salary Savings Plan - Amendment No. 4   (f)

         99.5  Salary Savings Plan - Amendment No. 5   (f)

         99.6  Salary Savings Plan - Amendment No. 6   (f)
   
         99.7  Salary Savings Plan - Amendment No. 7   (f)

         99.8  Hourly Savings Plan - Amendment No. 1   (e)

         99.9  Hourly Savings Plan - Amendment No. 2   (e)

         99.10 Hourly Savings Plan - Amendment No. 3   (e)

         99.11 Hourly Savings Plan - Amendment No. 4   (f)

         99.12 Hourly Savings Plan - Amendment No. 5   (f)

         99.13 Branch Hourly Savings Plan - Amendment No. 1   (e)

         99.14 Branch Hourly Savings Plan - Amendment No. 2   (e)

         99.15 Branch Hourly Savings Plan - Amendment No. 3   (f)

         99.16 Branch Hourly Savings Plan - Amendment No. 4   (f)

         (a)    Incorporated by reference to company's Annual Report on Form
                10-K for the year ended October 31, 1988.
         (b)    Incorporated by reference to company's Annual Report on Form
                10-K for the year ended October 31, 1989.
         (c)    Incorporated by reference to company's Annual Report on Form
                10-K for the year ended October 31, 1990.
         (d)    Incorporated by reference to company's Annual Report on Form 
                10-K for the year ended October 31, 1993.
         (e)    Incorporated by reference to company's Annual Report on Form
                10-K for the year ended October 31, 1994.
         (f)    Incorporated by reference to company's Annual Report on Form
                10-K for the year ended October 31, 1995
         (g)    Incorporated by reference to company's Current Report on Form 
                8-K dated December 6, 1996.

         (*)    Indicates management contract or compensatory plan or         
                arrangement.

(b)  Reports on Form 8-K:

     No reports on Form 8-K were filed during the quarter ended October 31,   
     1996.

Page 28<PAGE>
                                  SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange 
Act of 1934, the company has duly caused this report to be signed on its 
behalf by the undersigned thereunto duly authorized.

             LONGVIEW FIBRE COMPANY                 
Registrant

\s\ L. J. Holbrook                                     1-28-97               
L. J. Holbrook, Vice President-Finance,                Date
                Secretary and Treasurer

Pursuant to the requirement of the Securities Exchange Act of 1934, this 
report has been signed below by the following persons on behalf of the company 
and in the capacities and on the dates indicated.


\s\ R. P. Wollenberg                                   1-28-97               
R. P. Wollenberg, Chief Executive Officer              Date
              and Director 

\s\ L. J. Holbrook                                     1-28-97               
L. J. Holbrook, Chief Financial Officer                Date                 
             and Director

\s\ A. G. Higgens                                      1-28-97               
A. G. Higgens, Chief Accounting Officer                Date

\s\ R. B. Arkell                                       1-28-97               
R. B. Arkell, Director                                 Date

\s\ D. L. Bowden                                       1-28-97               
D. L. Bowden, Director                                 Date

\s\ M. A. Dow                                          1-28-97               
M. A. Dow, Director                                    Date

\s\ R. J. Parker                                       1-28-97               
R. J. Parker, Director                                 Date

\s\ D. A. Wollenberg                                   1-28-97               
D. A. Wollenberg, Director                             Date

\s\ R. H. Wollenberg                                   1-28-97               
R. H. Wollenberg, Director                             Date

Page 29<PAGE>