The northwest coast of Australia is one of the most desolate spots on earth. The nearest city of any size is Perth (pop. 376,000), some 1,450 miles to the south; mosquitoes and crocodiles infest the mangrove swamps; 12-ft. sharks cruise the lonely bays. In that unfriendly land, at remote Kuri Bay, a syndicate of Australians, Americans and Japanese called Pearls Proprietary Ltd. is turning out a product that has the world's jewelers agog. The product: fabulous pearls as big across as a 25-cent piece, of gem quality so fine that a Manhattan...
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