Basil Walters, ruddy, snow-topped executive editor of the Knight newspaper chain, was chomping his cigar in his Chicago Daily News office one morning last May when a visiting politician handed him a king-size story to bite on. The politician's tip: Illinois State Auditor Orville E. (for Enoch) Hodge's office was in deep financial trouble. The tip was surprising, since Hodge, often mentioned as a Republican candidate for Illinois' governor in 1960, is a popular official who has created the impression that he has a private fortune to support his expensive tastes, e.g., monogrammed...
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