Show FRAUD IN OIL PROMOTION BARER BARE Chicago Authority Says Public Was Bilked Biked Out of Half Billion Bilion in 19 CHICAGO March Marh Press Press Press- Wild Wildcat at oil al stocks cost Investors close cloe cloet t to half halt a billion bIlon dollars olar last lut yurt year Felix leUx elix Renick secretary ot or the tM New New ew York petroleum petroleum pe pe- pe- pe exchange said ad In a a speech here her before the national petroleum congress cons Establishment of bt an A oil 01 eX exchange along the Un lines lints s of coffeeS coffee grain n aha roe ro e exchanges ex U- thE g changes hah el to curb fraudulent dul nt promotions was wa urged by RenIck The phenomenal increase in fraudulent fraudulent lent promotions has ha directed the attentIOn attention aten- aten atten atten- t tion n of the oil industry to the th necessity for tor concerted 01 action cUon to to CurD euro insidious ious bus loul Influence which is responsible toP for forthe the lack laCK of general gheral confidence in oil on financing on the part art of the investing P I he B eald ald The t fact t that t at d. least east 10 per Cent en v of the combined capital of of oil 01 companies organised organized in 1919 namely 1620 companies with co combined 11 capital ot of or found its way into the pockets of the I fraudulent promoter and that that but but fifteen I of the oil c companies I in the United S States States' a are ale listed by the New NewYOrk e York stock I is ia a sufficient index of the need for increased stability in oil 01 ing I |