The dean of Harvard Business School, "steamed" at a newspaper artcle suggesting students here are taught to lie, has mounted a furious attack on the school's perennial ally, the Wall Street Journal and its parent Dow Jones and Co.

Dean Lawrence E. Fouraker said the article by the Wall Street Journal is "dispicable, unfair and irresponsible.

He said he wants to sue the company for "dereliction of its duty." And he threatens to stop Richard Irwin Inc., a textbook subsidiary of Dow Jones, from printing free of charge cases prepared by the business school.

Fouraker, "anguished" by the criticism, also said he would buttonhole two prominent Harvard graduates who sit on the Dow Jones board: Paul Austin, chairman of Coca-Cola, and Charles Meyer, an official with Sears, Roebuck and Co.

"I'm steamed up; it's an injustice to a really fine institution," Fouraker said. "I love the Harvard Business School."

The notorious article by William M. Bulkeley ran in the Jan. 15 issue of the Journal under the headline, "To Some at Harvard Telling Lies Comes as a Matter of Course."

The article focused on the "competitive decision making course" taught by Professor Howard R. Raiffa, which includes instructions on "strategic misrepresentation." The article indicated students were actually counseled in the art of lying so they could advance in the business world.

Commenting on the dean's one-man war against the company, Everett Groseclose, director of public relations at Dow Jones, said today, "The whole thing is a little annoying. Obviously we stand on the story." Boston bureau chief Richard Shaffer called the article, "fair and balanced" and said "we went out of our way to make sure Harvard had its say."

The newspaper was hit with a barrage of mail about the article -- a volume usually reserved for such issues as gun control and abortion.

The article triggered negative editorial reaction about Harvard Business School in The Washington Post, the Christian Science Monitor, the Chicago Tribune, the Chicago Sun-Times, and the Detroit News.

Fouraker was quoted as saying the bad publicity, "may have discouraged outstanding persons from coming to Harvard. It's bound to discourage someone from giving us money."

His concern escalated when he began receiving letters like the one from Colin C. Cameron,a business war against the company, Everett Groseclose, director of public relations at Dow Jones, said today, "The whole thing is a little annoying. Obvischool graduate who now heads Maui Land and Pineapple Co. Inc. in Hawaii: "This article... makes it sound as if Harvard Business School's programs are on the ethical level of a Syrian rug merchant or used camel dealer."