Hollywood is enjoying a laugh at the expense of Pola Negri in connection with a sudden trip to Albuquerque, New Mexico, on ‘‘oil business.” The film star, it was told by friends, was meeting Rudolph Valentino studio officials, on learning of the trip, wired to return immediately to avoid a publicity scandal. When she arrived in Albuquerque, she was greeted by a dozen reporters and informed there was no oil there. She started back to Hollywood. Upon his arrival here on his way to California, Rudolph Valentino denied he was engaged to Pola Negri and knew nothing about her trip to New Mexico. Valentino asserted he did not know Miss Negri intimately. Pola arrived at Albuquerque at midnight for business reasons, she said, and left at once. The incident gave rise to rumors that the two were to meet and be married.