ChurchillÛªs Rescue From Ruin
United Press International NEW YORK, Jan. 26ÛÓWinston Churchill faced a possible lifetime of debt and the end of his political career in 1929 but was saved by financier Bernard Baruch from a ruinous day playing the stock market, a historian said today.</br></br>The American's financierÛªs ÛÏextraordinary act of shrewdness and generosityÛ rescued Churchill from financial ruin, historian William Manchester wrote in the Feb-ruary-March issue of American Heritage magazine.</br></br>Churchill, ÛÏa born losing gambler,Û had stopped into Baruch's New York office and decided to play the stock market, Manchester wrote.</br></br>ÛÏAs prices tumbled he plunged deeper and deeper, trying to outguess the stock exchange,Û Manchester said.</br></br>ÛÏAt the end of the day, he confronted Baruch in tears. He was, he said, a ruined man. Chartwell [Churchill's estate! and everything else he possessed must be sold; he would have to leave the House of Commons and enter business,Û Manchester wrote.