Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1921-06-20
.RUMOR OF LEAK
ON OIL REPORT
Recent Wall Street Raid on
Doheny Securities
Responsible
TIPS BEFORE FINDINGS
First Report of Mexican Wells Going.
Dry Came From Pittsburgh-Is.
Report In Circulation

Washington, June 20. - Official
Washington is trying to find OH;
whether a group of Wall street spec
ulators has succeeded in running IN
other pipe line into any Of tie Gov
granent dcpartm The spectacle
lar raids recently conducted by the
aggressive "bear" contingent in Wall
street against the securitiec of the
Mexican Petroleum and ::ka Pan
American Tetrole:m concerns con-
trolled lv the Doheny interest. Is
responsible Tor the pastime.
The reason for the personal inter
est manifested by officials and Con-
gresgmen is that the spectacular
drive against the oil properties is al
legged to have oeen based upon ad-
vance information regarding the re
port OF an expert of the Shipping
Beard. which finally reached the put
Ec through the agency OF a commit
tee CT Congress-after some one o.
several persons had made many mil.
lions of dollars.
Several financiers in Pittsburgh,
New York and POSSIBLY Washington,
are credited with having won large
Sums through the manipulation CT
Mexican oil securities Mr.. Doheny
said in New York he would demand
an investigation.
There has been little or no talk of
ar inquiry here. Washington is mucr
concerned. however, as to where. no"
ard from whom the promoters of one
of the most successful stock market
coups in recent years secured in ad-
vance Government information.
For four or five days CongressioI
al ,cloakrooms, hotel corridors and
brokers' offices have echoed the re-
ports of '-leaks" and other mysterious
devices by which Wall street is popu-
larly believed to secure information
which it coins into dollars.
Circumstances characte-;zirg tn.
history cf the assault on Mexican OF!
securities have been skillfully wovea
together by pelsons of suspicious
turn cf mind to support their state
ments that beth the Shipping Boar.
and the Foreign Affairs COMMITTEES
were made the victims of "frame
rp' to raid the Mexican Petroleum Sc
cr1rities in the New York stock
market.
Propaganda obviously directed
against the American oil stocks bore
all the earn,arks of carefullyr con
ceived plan such as is usually found
back of most Of Wal lstreet coups.
Five or six weeks ago exclusive
. tips were given to representatives
or some of the leading newspapers o.
the country that they might find .
coed story" if they looked into thc
subject. Covert suggestions were made
that an investigation would disclose
that the Mexican oil wells are dry
ing up" salt water has got into Che
Mexican wells" " "The MeSican supply
will be exhausted in short time, ets'
These reports appeared to emanatf
from Pittsburgh sources, where there
are very large oil interests. A PITTS
burgh newspaper printed sensational.
stones tending to confirm the repor:
Washington correspondents properi!
appraised the statement-as Wall
street propaganda. Their judgment
was, to some extent, influenced by the
presence CT enc Of the boldest of ths
Wall street bears" who appeared &c
take more than casual interest in &C.
celebrating the propaganda. -
Seen vague statements began tc
crystalliZe into more definite infor.
nation. Through subtle and insidiou:
channels the tip came tha; Gov
ernrient report, showing that this
Mexican oil fields were going dry fo:
appearance; also that Congress- woul:
various causes, would soon make i:
call for information and possibly 3
investigation" ef oil. production ]
Mexico. ID 11;as. 49, ,.
The basis for the first ststemer
was that the Shipping Beard had ser
an. expert to atexieo to. iaxestiga.
the actual and potential sources !