Prudential Oil and Refining Company
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…)
