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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001199027-03-000001.txt : 20030428
<SEC-HEADER>0001199027-03-000001.hdr.sgml : 20030428
<ACCEPTANCE-DATETIME>20030428135745
ACCESSION NUMBER:		0001199027-03-000001
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030424
FILED AS OF DATE:		20030428

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WATANABE JEFFREY N
		CENTRAL INDEX KEY:			0001199027
		RELATIONSHIP:				DIRECTOR

	FILING VALUES:
		FORM TYPE:		3

	BUSINESS ADDRESS:	
		STREET 1:		999 BISHOP ST
		STREET 2:		23RD FL
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALEXANDER & BALDWIN INC
		CENTRAL INDEX KEY:			0000003453
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		IRS NUMBER:				990032630
		STATE OF INCORPORATION:			HI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-00565
		FILM NUMBER:		03666400

	BUSINESS ADDRESS:	
		STREET 1:		822 BISHOP STREET
		STREET 2:		PO BOX 3440
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96801
		BUSINESS PHONE:		8085256611

	MAIL ADDRESS:	
		STREET 1:		822 BISHOP STREET
		STREET 2:		PO BOX 3440
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96801
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>wat244.htm
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SEC Form 3
<TABLE width=1272 border=1>
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<TD width=254 valign=middle align=center>
   <B><font size=4 face=Tahoma>FORM 3</font></B>
</TD>
<TD width=764 valign=middle align=center>
   <div><font face=Tahoma><b>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</b></font></div>
   <div><font size=1 face=Tahoma><b>Washington, D.C.&nbsp;&nbsp;20549</b></font></div>
   <br><div><font size=2 face=Tahoma><b>INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES</b></font></div>
   <br><div><font size=1 face=Tahoma>Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility</font></div>
   <div><font size=1 face=Tahoma>Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940</font></div>
</TD>
<TD width=254>
   <div align=center><font size=1 face=Tahoma>OMB APPROVAL</font></div>
   <div align=center><hr width=98%></div><br>
   <div align=left><font size=1 face=Tahoma>OMB Number: 3235-0104</font></div>
   <div align=left><font size=1 face=Tahoma>Expires: January 31, 2005</font></div>
   <div align=left><font size=1 face=Tahoma>Estimated average burden</font></div>
   <div align=left><font size=1 face=Tahoma>hours per response. . . . . 0.5</font></div>
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<TABLE width="1272" border="1">
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<TD width=446>
   <div align=left><font size=1 face=Tahoma>1. Name and Address of Reporting Person*</font></div>
   <div align=left><font size=1 face=Tahoma><b>Watanabe, Jeffrey</b></font>
   <font size=1 face=Tahoma>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>N.</b></font></div>
   <div align=center><hr width=98%></div>
   <div align=center><font size=1 face=Tahoma>(Last)&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;(First)&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;(Middle)</font></div>
   <div align=left><font size=1 face=Tahoma><b>999 Bishop Street, 23rd Floor</b></font></div>
   <br>
   <div align=center><hr width=98%></div>
   <div align=center><font size=1 face=Tahoma>(Street)</font></div>
   <div align=left><font size=1 face=Tahoma><b>Honolulu, HI&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96813</b></font></div>
   <div align=center><hr width=98%></div>
   <div align=center><font size=1 face=Tahoma>(City)&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;(State)&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;(Zip)</font></div>
   <br>
</TD>
   <TD width=190 valign=top>
   <div align=left><font size=1 face=Tahoma>2. Date of Event</font></div>
   <div align=left><font size=1 face=Tahoma>&nbsp;&nbsp;&nbsp;&nbsp;Requiring Statement</font></div>
   <div align=left><font size=1 face=Tahoma>&nbsp;&nbsp;&nbsp;(Month/Day/Year)</font></div>
   <div align=center><font size=1 face=Tahoma><b>April 24, 2003</b></font></div>
   <div align=center><hr width=98%></div>
   <div align=left><font size=1 face=Tahoma>3. I.R.S. Identification</font></div>
   <div align=left><font size=1 face=Tahoma>&nbsp;&nbsp;&nbsp;&nbsp;Number of Reporting</font></div>
   <div align=left><font size=1 face=Tahoma>&nbsp;&nbsp;&nbsp;&nbsp;Person, if an entity</font></div>
   <div align=left><font size=1 face=Tahoma>&nbsp;&nbsp;&nbsp;&nbsp;(voluntary)</font></div>
</TD>
<TD width=382 valign=top>
   <div><font size=1 face=Tahoma>4. Issuer Name and Ticker or Trading Symbol</font></div>
   <div><font size=1 face=Tahoma><b>Alexander &amp; Baldwin, Inc. &nbsp; ALEX</b></font></div>
   <div align=center><hr width=98%></div>
   <div><font size=1 face=Tahoma>5. Relationship of Reporting Person(s) to Issuer</font></div>
   <div align=center><font size=1 face=Tahoma>(Check all applicable)</font></div><br>
   <div><font size=1 face=Tahoma><u>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<b>X</b>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</u> Director &nbsp;</font>
   <font size=1 face=Tahoma><u>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</u> 10% Owner</font></div>
   <div><font size=1 face=Tahoma><u>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</u> Officer &nbsp; &nbsp;</font>
   <font size=1 face=Tahoma><u>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</u> Other</font></div>
   <br><div><font size=1 face=Tahoma>Officer/Other</font></div>
   <div><font size=1 face=Tahoma>Description &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font>
   <font size=1 face=Tahoma><u>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </u></font></div>
</TD>
<TD width=254 valign=top>
   <div><font size=1 face=Tahoma>6. If Amendment, Date of</font></div>
   <div><font size=1 face=Tahoma>&nbsp;&nbsp;Original (Month/Day/Year)</font></div>
   <div align=center><hr width=98%></div>
   <div><font size=1 face=Tahoma>7. Individual or Joint/Group</font></div>
   <div><font size=1 face=Tahoma>&nbsp;&nbsp;Filing (Check Applicable Line)</font></div><br>
   <div><font size=1 face=Tahoma><u> <b>X</b> </u> &nbsp; Individual Filing</font></div>
   <div><font size=1 face=Tahoma><u> &nbsp; &nbsp; </u> &nbsp; Joint/Group Filing</font></div>
</TD>
</TR>
</TABLE>
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   <TD width=100% valign=top>
   <div align=center><font size=1 face=Tahoma><b>Table I - Non-Derivative Securities Beneficially Owned</b></font></div>
</TD>
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   <TD width=446 valign=top>
   <div><font size=1 face=Tahoma>1. Title of Security</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp;(Instr. 4)</font></div>
   <br>
</TD>
<TD width=254 valign=top>
   <div><font size=1 face=Tahoma>2. Amount of Securities Beneficially Owned</font></div>
   <div><font size=1 face=Tahoma> &nbsp; &nbsp; (Instr. 4)</font></div>
   <br>
</TD>
<TD width=190 valign=top>
   <div><font size=1 face=Tahoma>3. Ownership Form :</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; (D) Direct<br> &nbsp; &nbsp; (I) Indirect &nbsp; &nbsp; (Instr. 5)</font></div>
</TD>
<TD width=382 valign=top>
   <div><font size=1 face=Tahoma>4. Nature of Beneficial Ownership</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; (Instr. 5)</font></div>
</TD>
</TR>
<TR>
<TD width=446 valign=top>
   <font size=1 face=Tahoma><b>Common Stock (1)</b></font>
</TD>
<TD width=254 valign=top align=right>
   <font size=1 face=Tahoma><b>6.00</b></font>
</TD>
<TD width=190 valign=top align=center>
   <font size=1 face=Tahoma><b>I</b></font>
</TD>
<TD width=382 valign=top>
<b>By Custodian For Child (2)</b>
</TD>
</TR>
<TR>
<TD width=446><br>
</TD>
<TD width=254><br>
</TD>
<TD width=190><br>
</TD>
<TD width=382><br>
</TD>
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<TD ALIGN=LEFT VALIGN=TOP>
   <div><font size=1 face=Tahoma>Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.</font></div>
   <div><font size=1 face=Tahoma>* If the form is filed by more than one reporting person, see Instruction 5(b)(v).</font></div>
</TD>
<TD ALIGN=LEFT VALIGN=TOP>
   <div align=center><font size=1 face=Tahoma>Persons who respond to the collection of information contained in this form are not required to <BR>respond unless the form displays a currently valid OMB control number.</font></div>
</TD>
<TD>
   <br><div align=right><font size=1 face=Tahoma>(over)<br>SEC 1473 (7-02)</font></div>
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    <TD width=100% align=right><font face=Tahoma><b>Watanabe, Jeffrey N. - April 24, 2003</b></font><br>
</TD>
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    <TD width=100%><font face=Tahoma><b>Form 3 (continued)</b></font>
</TD>
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</TABLE>
<TABLE width=1272 border=1>
<TR>
<TD width=100% valign=top>
   <div align=center><font size=1 face=Tahoma><b>Table II - Derivative Securities Beneficially Owned (<i>e.g.</i>, puts, calls, warrants, options, convertible securities)</b></font></div>
</TD>
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<TD width=288>
   <div><font size=1 face=Tahoma>1. Title of Derivative Security</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; (Instr. 4)</font></div>
</TD>
<TD width=240 valign=top>
   <div><font size=1 face=Tahoma>2. Date Exercisable(DE) and Expiration Date(ED)</font></div>
   <br><br><br>
   <div align=center><hr width=98%></div>
   <div align=center><font size=1 face=Tahoma>&nbsp; (DE) &nbsp; &nbsp; | &nbsp; &nbsp; (ED) &nbsp;</font></div>
</TD>
<TD width=312 valign=top>
   <div><font size=1 face=Tahoma>3. Title and Amount of of Underlying Security</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; (Instr. 4)</font></div>
</TD>
<TD width=120 valign=top>
   <div><font size=1 face=Tahoma>4. Conversion or</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; Exercise Price</font></div>
</TD>
<TD width=120 valign=top>
   <div><font size=1 face=Tahoma>5. Ownership</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; Form</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; (D) Direct</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; or</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; (I) Indirect</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; (Instr. 5)</font></div>
</TD>
<TD width=192 valign=top>
   <div><font size=1 face=Tahoma>6. Nature of Indirect</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; Beneficial Ownership</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; (Instr. 5)</font></div>
</TD>
</TR>
<TR>
<TD width=288>
   <font size=1 face=Tahoma></font><br>
</TD>
<TD width=240>
<font size=1 face=Tahoma></font> &nbsp;
</TD>
<TD width=312>
   <font size=1 face=Tahoma></font> &nbsp;
</TD>
<TD width=120>
<font size=1 face=Tahoma></font> &nbsp;
</TD>
<TD width=120>
   <font size=1 face=Tahoma></font> &nbsp;
</TD>
<TD width=192>
<font size=1 face=Tahoma></font> &nbsp;
</TD>
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</TABLE>
<font size=1 face=Tahoma>Explanation of Responses : </font><br><br><br>
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   <div><font size=1 face=Tahoma>** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; &nbsp; &nbsp; <i>See</i> 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).</font></div>
   <br><div><font size=1 face=Tahoma>Note: &nbsp; File three copies of this Form, one of which must be manually signed.  If space is insufficient,</font></div>
   <div><font size=1 face=Tahoma>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <i>See</i> Instruction 6 for procedure.</font></div>
   <br><div><font size=1 face=Tahoma>Potential persons who are to respond to the collection of information contained in this form are not</font></div>
   <div><font size=1 face=Tahoma>required to respond unless the form displays a currently valid OMB number.</font></div>
</TD>
<TD width=40% valign=top>
   <div><font size=1 face=Tahoma><b>/s/ Jeffrey N. Watanabe</b></font></div>
   <div><font size=1 face=Tahoma>________________________________ &nbsp; &nbsp; &nbsp; &nbsp;<u><b> &nbsp; &nbsp;04-25-2003 &nbsp; &nbsp;</b></u><br>
   <div><font size=1 face=Tahoma>** Signature of Reporting Person &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Date</font></div>
   <br>
   <br><br>
   <div align=right><font size=1 face=Tahoma>Page 2</font></div>
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    <TD width=100% align=right><font face=Tahoma><b>Watanabe, Jeffrey N. - April 24, 2003</b></font><br>
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    <TD width=100%><font face=Tahoma><b>Form 3 (continued)</b></font>
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    <div align=center><font face=Tahoma><b>FOOTNOTE Descriptions for Alexander &amp; Baldwin, Inc. ALEX</b></font></div><br>
    <div align=right><font face=Tahoma>Form 3 - April 2003</font></div><br>
    <div><b><font size=2 face=Tahoma>Jeffrey N. Watanabe<br>999 Bishop Street, 23rd Floor<br><br>Honolulu, HI 96813</font></b></div>
    <div align=center><hr width=98%></div>
    <div><font size=2 face=Tahoma><b>Explanation of responses:</b></font></div><br>
    <font size=1 face=Tahoma><b>(1) &nbsp; On June 25, 1998, the Board of Directors of the Company declared a dividend, with respect to each share of common stock, of Common Stock Purchase Rights (the 'Rights') pursuant to a Rights Agreement, dated as of June 25, 1998.  The Rights are currently attached to, represented by, and transferable with, certificates representing outstanding shares of common stock.</b></font><br>
    <font size=1 face=Tahoma><b>(2) &nbsp; By self as custodian for child under the Hawaii Uniform Gifts to Minors Act.</b></font><br>
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    <font size=1 face=Tahoma>Page 3</font>
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