WALL STREET: The Winchell Market

"Wall Streeters," boasted Hearst Gossipist Walter Winchell last week, "are calling the current rise of many stocks a Walter Winchell Market." The truth was less impressive than Winchell's fiction. For the past few months, on his Sunday night radio-TV broadcast, Winchell has been as full of tips as a market newsletter. The Securities Exchange Commission, which questioned the sources of his tip-stering several years ago, but retreated when Winchell pleaded "freedom of the press," is not officially concerned with his latest interest. Winchell has assured the SEC that he does not...

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