Meanwhile back at the Glass House, the spin doctors are busy containing the buzz that young William C. (don't-call-me-Billy)Jr. could succeed Chairman Alex Trotman as early as 1999. In an enticing, yet carefully hedged article, Fortune magazine's Alex Taylor III says some Ford directors are ready to anoint the 39-year-old son of Detroit Lions owner William C. Ford as the first family member to serve I as chairman since his uncle Henry II retired in 1980. it seems young Bill is growing restless limiting his role at the company to chairman of the finance committee. Under this scenario someone else, likely Jacques Nasser would ascend to chief executive officer after Mr. Trotman's retirement. While Fortune says the board has asked Mr.Trotman to stay on for one year past his 65th birthday in July 1998, other sources indicate no such agreement has been reached. The fate of Edward E. Hagenlocker, president of Ford Automotive operations, also is the subject of conflicting speculation. One theory says Mr. Hagenlocker will be elevated to the largely ceremonial position of Vice Chairman because some board members see him as indecisive. Another source says Mr. Hagenlocker remains a very strong candidate to succeed Mr. Trotman. Go figure.