Word: ont
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JERRY LERMAN Toronto, Ont...
...BECKER Bowmanville, Ont...
Last year the U.S. Securities and Exchange Commission accused twelve directors, executives and employees of the Texas Gulf Sulphur Co. of using "insiders' " information to their own profit. According to the SEC, the twelve knew about the company's rich new mineral strike near Timmins, Ont., and started buying up stocks before a public announcement was made. Going to court, the SEC demanded among other things that the twelve be required to divest themselves of the Texas Gulf stock, plus any profits that they had picked up as insiders...
...original SEC suit, filed in the spring of 1965, charged that 14 men had used advance knowledge of a copper ore strike in Timmons, Ont, to buy stock in Texas Gulf Sulphur. Lamont was initially said to be the only man not to have profited personally from the information; the original suit merely said that he had passed the information on to a friend, who had made large purchases for several banking clients. The suit was later amended, however, to charge that Lamont had bought securities for himself...
Born in Southampton, Ont., of a Scottish father and a mother of English descent, Thomson was a bright but restless student. He left Canada at 18 without finishing high school, headed south of the Canadian border, turned up at the home of an uncle in the Queens borough of New York City. Interested in figures and bookkeeping, he went to Wall Street for a job, was hired by Merrill as a runner at $14 a week. "I remember the salary well," says Thomson, whose present annual income is over $100,000. "I couldn't live...