Word: nassaue
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Suitcase Companies. This February, 1,000 tourists a day went down ships' gangways and airplane ramps (Nassau is a 55-minute flight from Miami) to lose themselves in the Bahamas' magical blend of suntan, goombay music, Beefeater Gin (at $2 a bottle), crazy straw hats and Sweet Richard's single-entendre ditties at the Cat and Fiddle Club. Commerce, which flourished briefly in the blockade-running days of the Civil War and the rum-running days of Prohibition, is again running wild. And, in a respectable way, the pirates are back...
...group of merchants, lawyers and real estate wizards, known as the "Bay Street Pirates" to Nassau taxi drivers, began the boom nine years ago. They spread the word that these British crown-colony islands have no income taxes, no personal property taxes, no real estate taxes, no capital gains taxes, trifling inheritance taxes. Now, says Attorney Stafford Sands, leading Bay Streeter, "there's a definite feeling of yeastiness about the whole American investment picture...
...addition to hundreds of British and Canadian firms, an estimated 26 U.S. companies are operating out of Nassau suitcases. The Bethlehem Steel Corp. lurks behind a mahogany shingle reading, "The Registered Office of Bethlehem Steel Co. Limited, Overseas Underwriters Limited." Similar shingles hang outside Nassau offices of outfits such as Crucible Steel, U.S. Steel (which calls itself Navios), Whirlpool, Cummins Diesel, RCA, J. I. Case (agricultural equipment) and Grant Advertising. Outboard Marine International (Evinrude and Johnson outboard motors) has a staff of 55, including U.S. citizens, Englishmen, Canadians and a handful of Bahamian Comptometer operators. In air-conditioned comfort behind...
Coke & Beer. On central New Providence Island, nine new hotels have sprung up in the past five years. The Howard Johnson-run Nassau Beach Lodge opened in February; rushing to completion is Lyford Cay, a combination club-real estate development masterminded by international beer baron and financier Edward Plunket Taylor of Toronto. In 1955 Taylor paid $2,000,000 for 4,000 acres of underbrush 17 miles west of Nassau, making him the second biggest landowner on New Providence (after Eunice Lady Oakes and her children, heirs to the 7,000 acres of the late Sir Harry Oakes...
...Street boys run the politics as well as the boom. But even in the sparsely populated (116,530) Bahamas, the dreams that drove colonials to greater measures of self-government elsewhere in the old British Empire are stirring. Last year, at the beginning of the winter season, Nassau's taxi drivers, bus boys, power-plant workers and construction workers walked out on strike (TIME, Jan. 27, 1958). Members of the Progressive Liberal Party, they struck mostly for fairer polling laws, and they won a few concessions; e.g., men of property, who formerly could vote in every constituency where they...