Word: cebu
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...Cebu, fairest and wealthiest island of the lovely Visayan Sea, lay helpless before the clutch of the Jap. For days the city of Cebu, second largest in the Philippines (pop. 142,912), had been all but deserted. The two movie houses were still showing outdated U.S. films; a few customers still tapped the dwindling supply of beer and whiskey in the Vienna...
...Cebu, 360 miles southeast of Manila, knew what was coming when the Jap finished up on Bataan. Last week, sure enough, the Jap came to Cebu...
...also holds the important islands of Cebu, Negros and Panay in the Visayan...
...seven consecutive days before General Douglas MacArthur left Corregidor, the War Department's Philippine communiqués had a pleasant, unchanging sameness. U.S. scouting units continued to harass enemy communications. A Japanese cruiser fired several shells into the port of Cebu, but the slight damage inflicted hardly made the effort worthwhile. Another Jap division was landed at Mindanao, south of Luzon. Somehow-the means were not disclosed-a 3,000-ton enemy tanker was sunk. Otherwise, all was quiet in the Philippines...
Back in January 1937, few shrewd investors would have wasted a second look at bonds of the tiny Philippine Railway Co., sick sugar-hauling road on the islands of Panay and Cebu. Selling around $11, the $8,549,000 issue was about to mature, apparently a total loss to U. S. bondholders. Then came rumors that Washington might act, that the Philippine Commonwealth would redeem the issue at $65. Bonds shot up to $31 in January and February as speculators bought for the rise, crashed when President Manuel Quezon denied his Government was buying them. Smelling a rigger, SEC investigated...