The Press: 90-Day Wonder

When the flossy fashion-trade magazine Kaleidoscope made its bow this fall, magazine men were amazed at the jet-propelled speed with which it had been put together (TIME, Sept. 13). Last week, Kaleidoscope set another speed record of sorts: after only three issues, it fizzled out like a spent rocket. On Thanksgiving eve dismissal notices went to the staff.

In its short life, the monthly had burned up $800,000 invested by Backers Harold Talbott, Jack Chrysler, Angier Biddle Duke, Joe Uihlein Jr. (Schlitzbeer) and others. To keep going, Kaleidoscope needed another $1,400,000, and nobody...

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