Word: gold
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Dates: during 1940-1949
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...some of his favorite blue suits, a clutch of flashy ties and plenty of cigars. Then he kissed his wife goodbye, took a last look at the Ohio River, where he swam as a boy, and drove into town to take the train. Last week, at 80, the gold king of the Philippines was on his way back to the islands to rebuild his war-shattered empire...
Since war's end, John Haussermann had been busily scraping up money and shipping off 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...
Balatoc (also on Luzon) turned out to be the most profitable mine in the islands and Haussermann became one of the biggest gold producers in the world. By 1940, his mines employed 10,000 Filipinos, produced 1,200,000 tons of ore-about one-third of the islands' gold output-and earned their stockholders $4,000,000 a year...
...back too soon to please Philippines' President Manuel Roxas. Gold is the Philippines' most valuable export. Benguet now sells it in the Philippine free market for $44 an ounce. Though traders sell it outside for around $60, Haussermann doesn't mind. Along with fat profits, he likes the fun of digging gold. Says he: "When a man's 80, he doesn't have any cronies left. Work's my hobby...
...Puritans held a slim 20 to 18 edge at halftime, and had to battle all the way to nose out the stubborn Gold Coasters. It was the Winthrop quintet's eleventh win, against one defeat. Dan Stevens registered eight points for the winners, while Evan Nanoff chalked up 11 for Adams...