THE GREAT WORLD AND TIMOTHY COLT, by Louis Auchincloss (285 pp.; Houghton Mifflin; $3.75), is another saga of the pervasive man in a grey flannel suit (legal division), specifically a young attorney in one of Manhattan's sprawling and powerful law factories. As outlined by Novelist-Lawyer Louis Auchincloss, Timothy Colt's problem is how to conform to a pattern whose place in the moral spectrum lies comfortably between the shining white of pure integrity and the smudgy black of downright dishonesty. At the start, as an eager apprentice in the prosperous firm of Sheffield, Knox,...
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