Word: benguet
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...equipment to rebuild the mining villages and mill plants wrecked by the Japanese. A trickle of gold was already coming from his mines. But bustling Mr. Haussermann thought it would come out faster if he was on the spot. Twice before, he had picked up the pieces of his Benguet Consolidated Mining Co., and fitted them together, until in 1941 they made a $100,000,000 empire...
...Judge John W. Haussermann, who went to the Philippines 38 years ago as a second lieutenant of the 20th Kansas regiment and returned last July as Republican National Committeeman to hear Alf Landon accept his Presidential nomination. The tale concerning him is that anyone who put $100 into his Benguet Consolidated Mining 25 years ago would be worth $500,000 today. Even so, although he nursed his company along since 1909 it did not get into the big money until after 1926 when new ore deposits were discovered. Not until 1933 did its earnings exceed $2,800,000 a year...
...hazy days of the Chinese empire, centuries before Magellan reached the Orient, the Igorots of Benguet mined gold in the Philippine hills. The Spaniards snatched off their gold earrings and beat them into crucifixes. Spanish-American War adventurers, trekking inland, were greeted by natives crying "Ado Balatoc Bantay!" ("Lots of gold in the mountains.") But geological disturbances, dense vegetation, frequent droughts and lack of modern machinery kept the infant industry of the Philippines from rapid development. Not until last year did Philippine business men really begin to discover how much balatoc there was in the bantay and what...
Badly muddled was Manila's reaction to passage of H. R. 7233. Owners of Benguet Consolidated, best Philippine mining stock, which has just paid a 50% dividend, dumped 2,000 shares at 50 centavos (25?) below the market quotation, so alarmed were they over the economic consequences of independence. The Philippine Legislature, sitting as an Independence Commission, wrangled and haggled from dawn to dark over H. R. 7233. Manuel Quezon, President of the Senate, denounced it as an insincere "joke," claimed it was foisted on the islands by National City Bank's investment in Cuban sugar. Cries...
...innocent.-ED. Brent & Canterbury Sirs: Seeing in TIME that the Archbishop of Canterbury was yachting on the luxurious Corsair with Multi-Millionaire Morgan, reminded me of the late Bishop Brent, of New York State, and a different scene. I was with Major General Henry C. Corbin on the Benguet road going from Baguio to Manila in an army (Doherty) wagon. At noon we outspanned for luncheon. Smoking in the shade after chicken and ham and iced wine, we descried an ass coming up the steep ascent with a dusty figure of a man plodding beside the beast. "Those squaw...