Word: sugars
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Dates: during 1950-1959
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Public Works. Prosperity is a key weapon in President Fulgencio Batista's struggle to remain in office. When the strongman moved into the presidential palace in 1952, he inherited an economy weakened by a huge sugar surplus that was depressing world prices. Batista slapped on acreage quotas, gradually unloaded the excess, even shipping sugar to the U.S.S.R. Prices started a gradual climb, now stand 30% higher than in 1953. He imposed greater discipline on the country's labor unions, granted wide tax and tariff concessions to new industry. In a calculated gamble, he began spending part...
Investors were quick to take advantage of the new terms. In four years, new industrial investment totaled $612 million, including some $70 million of U.S. capital (bringing U.S. investment in Cuba, mostly in public utilities and sugar, to $750 million by last year). Projects completed or under way include the island's first steel plant ($16 million), two tire factories, new oil-refining facilities ($70 million), expansion of the U.S. Government-owned nickel plant at Nicaro ($37 million). The boom shows no sign of slackening. Planned for the future: a $147 million expansion program by a subsidiary of American...
True to the Front Page stereotype, Jimmy Richardson's salty hide has never wholly concealed the sugar-cured ham inside. Says one old Examiner hand: "He's half oaf, half elf." One of the greatest thrills in his life was when Author (and longtime friend) Harlan Ware wrote a movie about four-times-married Richardson (Come, Fill the Cup), dedicated it to the "Last of the Terrible Men." And after swearing off liquor himself (he has not had a drink in 20 years), City Editor Richardson helped many another capable newsman fight his way out of the bottle...
Just by following a tariff debate in Congress, Baruch made his first sizable coup of $60,000 in a sugar stock. With it he bought a seat on the New York Stock Exchange for $19,000, and married a reserved Episcopal girl named Annie Griffen, who had waited eight years for Baruch to name the day despite her father's unyielding opposition to the match. The market operation that gave Baruch a head start on his first million was inadvertently affected by the holiest day in his own faith, Yom Kippur, on which, as on other holy days...
...Bueycito and Minas, carried off arms, ammunition and supplies. Then they set two bridges afire on the highway between Bayamo and Manzanillo, and the next day engaged Batista troops at Peladero. In Santiago the funeral turned into a spontaneous general strike, spreading to neighboring towns. The big Oriente Maceo sugar mill was burned to the ground...