Crime: 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...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!