Suggestion worked @ Design time, but. . .
Suggestion about decreasing Fontsize to 8 was good advice. It allowed text box to be 300 twips high at design time. Changing FontSize to 10 did not resize it at design time. When text was entered @ run time, the box was resized to 360 twips, so the problem is not yet resolved. I am pretty sure that 10 Point type would not be cut off in box 300 twips high.
There seems to be something strange going on, because the form has two other text boxes which are 285 twips high & contain the same font with FontSize = 10. Numeric data is put into the other two boxes, while the problem box gets alphabetic data. I doubt that numeric versus alpha data is pertinent, but I guess it could have some effect.
I am doing some form resizing to react to different Screen Resolutions. I also change position of some controls, depending on the resizing of the Form (The problem box is repositioned). This is the first time I have tried this type of logic, so I could be having troubles due to not understanding the Event Sequencing. There are some other symptoms that I do not understand yet.