Arctic Explorer turned Oil Promoter

Letters, brochures, and tip sheets promoted Dr. Frederick Cook’s dubious petroleum ventures.

 

He was a controversial North Pole visitor whose fraudulent claims were part of failed oil company ventures, a mail fraud conviction, and jail time.

Arctic explorer Dr. Frederick Albert Cook in 1908 made the widely accepted claim to have reached the North Pole after an arduous journey. He became a celebrity after accounts of his feat appeared in newspapers. Cook’s near approach to the pole would be erased in less than a year when Admiral Robert E. Peary made a scientifically documented journey to achieve the milestone.

In 1909, a special commission at the University of Copenhagen investigated Cook’s conclusion that he had reached the pole before Peary. After examining Cook’s records, the commission on December 21, 1909, found no evidence Cook had reached the pole. The U.S. Congress formally recognized Peary’s claim in 1911.

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Prudential Oil and Refining Company

Prudential-Oil-and-Refining-stock-aoghs

The Prudential Oil and Refining Company, organized in 1917 with $3 million capitalization, was a stock scam executed by Seymour E. J. “Alphabet” Cox, a notorious oil promoter and ad-man who was pilloried in the press for his unscrupulous schemes.

United States Investor magazine reported on May 10, 1919, that Prudential Oil and Refining stock was then selling for about four cents per share via Cox’s Prudential Securities Company.

“We would hate to pay even that small amount for it,” the publication noted.

Cox was described as “the author of some clever literature which holds a lure to the uninitiated (but) without further comment on his golden promises, we would advise that you find more substantial ways than this for placing your money.” (more…)

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