Word: sulphureous
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...Stock Exchange. With investors excited by the possibilities of war in Viet Nam and shortages of war-essential copper at home, Calumet & Hecla two weeks ago touched off a run by announcing a 35 million-ton copper ore find in upper Michigan. Remembering quick profits generated by Texas Gulf Sulphur's Ontario copper strike two years ago, stock buyers put in so many orders for Calumet & Hecla that trading was suspended for six days, a record lapse on the Big Board. When trading resumed, 160,400 shares-or 7½% of all Calumet & Hecla stock-changed hands...
Last month Curtis negotiated the sale of 110,000 acres of mineral-rich Canadian land, as well as 141,000 acres of Pennsylvania forest, to Texas Gulf Sulphur. The transaction should bring in some $24 million, which could wipe out most of Curtis' $28 million bank debt -down from $36 million after the sale of Curtis' Lock Haven, Pa., paper mill earlier this year. "We are over the hill," says the vice chairman of Boston's First National Bank, Serge Semenenko, the financier who put together a $35 million loan for Curtis in 1963 and has been...
...industry, the byproducts of a cleanup often offset part of the costs. Los Angeles County's oil refineries strip smelly hydrogen sulphide from crude oil, convert it to 450 tons a day of marketable sulphur. Boston Edison Co. mines vanadium from its oil-fired smoke, exports it to Belgium. For the nation, air and water cleanups mean a huge saving in dollars as well as in health. An air cleanup alone would save $11 billion a year that is now wasted on extra cleaning, painting, corrosion and damage to crops and property...
Shortly before 10:45 a.m. on April 16, 1964, Thomas S. Lament stepped away from the Manhattan board room of the Texas Gulf Sulphur Co. and phoned an officer of Morgan Guaranty Trust Co., of which Lamont, 66, is retired vice chairman. The Texas Gulf board meeting had broken up, and Director Lamont advised the banker to watch the Dow-Jones ticker for good news about the company. Ever since, Lamont has been troubled by that phone call...
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...