By its own admission, Manhattan's pink knight among newspapers, the hyperthyroid tabloid PM, has everything it takes to be a great newspaper—except readers. Its 165,000 nickel-a-day "shareholders" (over 200,000 pay a dime on Sundays) make up a weekly $60,000 pot, but each week some bills go unpaid. For most of PM's six years, Marshall Field has been standing off the sheriff. Some weeks the gesture cost him $40,000. By last week, founder-editor Ralph Ingersoll's* pamphleteering paper had set back his benefactor $4,318,000 and the end was not yet in sight. Said Field...
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