Word: sulphurously
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Dates: during 1960-1969
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There was much background to the SEC move. Last year the commission lodged charges against 13 officers, directors and key employees of Texas Gulf Sulphur Co. for taking profitable advantage of advance word about the discovery of a huge Ontario ore field of copper, lead, zinc and silver. Among those charged was Thomas S. Lament, now 67, a retired vice chairman of Morgan Guaranty Trust Co. and a director of Texas Gulf Sulphur...
...Securities and Exchange Commission has charged Thomas Lamont '21, Harvard Fellow and director of Texas Gulf Sulphur company, with fraud and deceit in 1964 purchase of 3000 shares of Texas Gulf Sulphur stock...
Lamont bought 3000 shares of stock for himself on April 16, 1964--the same morning that Texas Gulf Sulphur had held a public news conference to announce the rich Timmins ore discovery...
Lamont, however, said in a statement issued Tuesday that his purchase of Texas Gulf Sulphur shares had been made only after "announcement of the ore find had been widely disseminated through a variety of media...
...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...