SCOTIA, Calif. - Financially troubled Pacific Lumber Co. is the victim of its corporate owner's excesses, not increasing government restrictions on logging, according to a state water agency's controversial new study. The state Water Resources Control Board's 18-page report blames Texas-based Maxxam Inc. for shifting hundreds of millions of dollars in profits from Pacific Lumber in "subtle and complex ways," forcing the North Coast timber giant to cut trees "at rates that greatly exceed sustainable forest practices." The state report claims Maxxam has funneled nearly $725 million in Pacific Lumber earnings into its own Houston, Texas, coffers over the past...