MILESTONES IN SCANDAL

July 1969

Gov. Preston Smith, House Speaker Gus Mutcher, state Rep. Tommy Shannon and state Democratic Party Chairman Elmer Baum and others buy stock in insurance company owned by Houston developer Frank Sharp, using loans from his Sharpstown State Bank.

Sept. 1969

Legislature passes banking laws, sponsored by Shannon, that are favorable to Sharp and his insurance company.

Jan. 1971

U.S. Securities and Exchange Commission files suit against Sharp and two partners for stock fraud, and Smith and others are named in depositions.

March 1971

“The Dirty Thirty,” the nickname for 30 dissident House members, rally for a more vigorous investigation of Mutcher.

June 1971

Sharp pleads guilty, receives a $5,000 fine and three years probation.

Sept. 1972

Former Texas Insurance Commissioner John Osorio, a business associate of Sharp, is convicted of embezzlement and sentenced to prison for three years. Guilty verdicts also for Mutcher and Shannon.

Nov. 1972

New slate of Texas lawmakers is elected as voters defeat most incumbents.

Jan. 1973

Newly elected Lt. Gov. Bill Hobby and House Speaker Price Daniel Jr. start session that passes a number of historic reform bills to tighten public information, regulation of lobbyists and campaign finance legislation.