Philippine economic development : the tally of 150 years / Bernardo M. Villegas -- The first 50 years, 1834-1884 : the patriarchs as pioneers / Eduardo Lachica -- Memoirs : exploring the world of Dona Margarita / Virginia B. Licuanan -- The second 50 years, 1884-1934 : the proprietors as innovators / Eduardo Lachica -- Memoirs : Calatagan--visits to an enchanted country / Alfonso Zobel de Ayala -- Folio I : Family pictures -- The third 50 years, 1934-1984 : the heirs as working professionals / Eduardo Lachica -- Memoirs : the Makati adventure / Joseph R. McMicking -- Folio II : The land and the people--Makati, New Alabang and Calatagan -- Retrospective : Ayala in art / Leonidas V. Benesa -- Folio III : Paintings from the Ayala collection -- Memoirs : Fernando Zobel : an artist as a painter, as a man / Monina Allarey Mercado -- Important dates and events