Oil Frauds

More than $100,000,000 is the estimate placed by Post Office inspectors upon the amount of money filched from the public during the past five years by oil-stock promoters operating in the State of Texas.

The inspectors also report that companies and syndicates were organized, ran their course and passed into extinction by the hundreds during these five years, leaving approximately half a million stockholders scattered throughout the United States to mourn the fading of rosy dreams.

Postmaster General New reported that the Post Office Department intends " to move in the most vigorous manner possible for the enforcement of both the criminal law and the fraud order statutes against the fraudulent use of the mails " in selling fake oil stocks. Already 200 cases involving fraud have gone to the grand jury at Fort Worth, due to the Federal investigation of oil swindles.

Nevertheless, it will be hard to convict the dishonest promoters. Frauds involving large stock selling enterprises are the most complex and difficult to handle of all cases arising under Federal jurisdiction.