Word: gulf
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Dates: during 1960-1969
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...harp-so called because of a harp-shaped black blotch on its back-cannot swim at birth and dies if whelped into the frigid ocean off Labrador. By a generous natural coincidence, however, whelping occurs just as spring thaws begin to break up the winter ice in the Gulf of St. Lawrence. Taking advantage of the breakup, pregnant cows among the 800,000 harps make their way south. Swimming down the Labrador coast and through the Strait of Belle Isle, they enter the broad Gulf of St. Lawrence. In the sheltered waters of the gulf, the herd instinctively turns...
Stout Oak Clubs. Not all of them make it. Of the 250,000 harp-seal pups born in the gulf each year, nearly one-quarter may die at the hands of their natural enemy-man. Their white coats have long been prized for boot and glove trimmings and for fur jackets. In the gulf, a horde of hunters invade the floes on foot, by boat, on ski-equipped planes and in recent years by helicopter. Hundreds of sealers-"swilers" in the Newfoundland dialect-conduct a brief but grimly efficient slaughter. With stout oak clubs they move systematically through the herd...
...city's current population of 4,000; but its architecture tends to be pedestrian, and most residents still work elsewhere. Reston, Va., 18 miles west of Washington, is probably the most esthetically appealing of America's new towns, but it has had serious financial troubles; last autumn, Gulf Oil took the 7,400-acre community over from its developer, Robert E. Simon...
...After Gulf & Western was blocked by the Justice Department from taking over Armour & Co., Charlie Bluhdorn attempted to resell his 750,000 shares to the meat packer for about $60 per share. He thought he had a deal?and an $18 million profit?but Armour Chairman William Wood Prince tried a squeeze play to drive the price down to $50. His method was ingenious. Armour made a public offer to repurchase 20% of its own outstanding shares at $50 each. If successful, the move would have increased Bluhdorn's stake in Armour from 9.8% to 12½%, thus making Gulf & Western...
...involve pure speculation. Technically, they have no value at all unless the common stock climbs above the option price. They were in disrepute for most of the years since the Depression because their volatile prices make them extra risky for investors. But warrants caught on again after LTV and Gulf & Western used them to pay for acquisitions. Issued in moderate amounts, warrants may have no significant effect on a corporation's finances. But Manhattan's General Host Corp., which has only 2.6 million shares of common stock, last month offered 14 million warrants in its successful fight to win control...