The Press: On the Vet's List

At Chicago's bustling, blustery Loop corner of Clark & Madison, Newsie Sol Bertuca tightened his coat against the cold, and scowled: "It's gone, it's nothing, it's dead." All over the country, the sale of racing forms had dropped as much as 75% —way below seasonal expectations; tip sheets were as badly off or worse. Reason: Bookies had closed shop rather than pay the new federal betting tax and thus face arrest for violating state laws.

Walter Annenberg's far-flung Triangle Publications were hard hit. The antigambling drives, plus the sky-high production costs plaguing all...

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