Almost everyone has dreamed of striking it rich with a two-bit stock. Thanks to that dream, dozens of sharp, fly-by-night promoters in Toronto have struck it rich peddling worthless penny stocks to Americans. Spurred by the boom in Canadian oil (TIME, Sept. 24), dealers have flooded the U.S. with literature on such "promising opportunities" as Hy-Flow Petroleum, Golden Fleece Mines and Uranium Explorations, Ltd., have been able to bilk U.S. suckers of some $50 million (swindlers' estimate) a year. Sample come-on: "Our first stunned enthusiasm was fully warranted . . . This is the opportunity we had always dreamed...
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