THE SCRAPBOOK hears that alarm bells were ringing in Austin two weeks ago when the Associated Press reported "close associates" of Elizabeth Dole were urging her to leave the race for the Republican presidential nomination. Advisers to George W. Bush apparently worry that a Dole exit would leave the Texas governor in a one-on-one matchup with John McCain, analogous to Al Gore's struggle with Bill Bradley. Austin's calculation: Better for the front-runner to have a commanding lead over a passel of minor candidates than see the primary field winnowed down to only one credible challenger.

So with a wink and a nod, Dole has reportedly received assurances from Austin that she will enjoy a very soft landing -- i.e., help retiring her campaign debt -- if she wants to stay in the race until after the New Hampshire primary. Interestingly, Dole operatives have also recently stepped up criticism of McCain; On Oct. 7, Dole aide Tony Fabrizio said of McCain, "Someone suggested that to know John is to dislike John." Other sources have Mrs. Dole making one last push for the next few weeks, then pulling out before the formal announcement of her candidacy, scheduled for Nov. 7.