University Owns No Sulfur Stock
Paul C. Cabot '21, Treasurer of the University, said yesterday that Harvard bought no stock in the Texas Gulf Sulfur Company in 1962 or 1964.
Cabot also said that the University has no Texas Gulf Sulfur stock now in its general investment account. He doubted that there was any of the stock in other Harvard funds either.
Thomas S. Lamont '21-a Fellow of the Harvard Corporation and a Director of Texas Gulf Sulfur-and 12 other men were accused Monday of illegally withholding for five months information about a rich ore discovery made by the company in November, 1963.
A suit brought by the Securities and Exchange Commission alleged that the men used this information to buy stock for themselves and other before public knowledge of the discoveries caused a rise in its price.