CRIME: Oilman Out

In April 1925, Frederick Albert Cook, M.D., polar explorer, mountain climber, oil stock promoter, entered the U.S. penitentiary at Leavenworth, Kan., became convict No. 23,118, began to serve a 14-year sentence. Not for the doubt that had been cast upon his story of "discovering" the North Pole was he convicted, but for using the U.S. mails to defraud.

In 1921 Dr. Cook had appeared in Texas as head of a petroleum producers association. His economic theory: "A consolidation of bankrupt companies with dry wells would produce a solvent company with flowing...

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