Word: gulf
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Dates: during 1960-1969
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...food; it has about the same nutritional value as the turnip. Little need have little fear that the plant will be wiped out. It once grew only in fresh water, but in Louisiana it now grows in salt marshes, has even lived for a while out in the Gulf of Mexico. It may soon be attacking tropical ports all over the world...
Morgan Guaranty subsequently bought 8000 shares of Texas Gulf. A suit filed by the SEC April 18 in Federal District Court in New York contends that Lamont violated securities laws forbidding corporate officers to capitalize on inside information...
Lamont is a director of both the Texas Gulf Sulphur Company, which made the strike, and the Morgan Guaranty Trust Company. He is charged by the SEC with telephoning word of the strike to an officer of Morgan Guaranty before the news was made public...
...answer also declares that Morgan Guaranty purchased stock in Texas Gulf after the time of the public announcement of the mineral strike. Reporters phoned news of the strike to their publications at 10:20 a.m. the day of the announcement, the reply states, and one major brokerage teletyped news to its branch offices...
...answer contends that Morgan Guaranty's purchasers "were affected at various times from approximately 10:54 a.m. to approximately 10:59 a.m." The SEC suit charges that a Dow Jones news service bulletin "at or about" 10:55 a.m. was "the first official public announcement by ... Texas Gulf of the significance of the ... discovery...