False Letters

That there is a limit beyond which stock market letters may not go in their often dangerous practice of making misstatements and starting rumors which affect stock prices, was shown by the recent retraction by W. C. Moore of his charges that Edward L. Doheny was lying about his company, the Mexican Petroleum Company. Back in 1921, when the price of "Mex Pete" was fluctuating widely on rumors regarding the oil situation in Mexico, Moore, in his "market letters," insinuated that the Company was unsound and being misrepresented by its officers.