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Ever since Raymond Hudd sent a Sputnik-shaped hat orbiting around the fashion world, he`s been capping the year by turning headlines into headgear. Though usually a mild-mannered milliner, ”The Madhatter of the Midwest” cuts loose in December. Hudd will unveil this year`s crowning achievements in the window of his store called Raymond Hudd, 2425 N. Clark St., on New Year`s Eve. Here`s a sneak preview of the review:

”Study: Deaths from smoking on rise” (Feb. 1): ”Anti-smoking stories have increased year after year; this year they were even more in the news,”

says Hudd, a non-smoker. ”The cigarettes are like coffin nails.”

”This war is behind us: Bush” (Feb. 28): ”The Gulf war was the biggest story of the year,” says Hudd. ”That and the (Clarence Thomas Supreme Court confirmation) hearings. But I couldn`t do that and be clean about it.”

”An advocate for the children (Nov. 13): ”Oprah takes the cake for going to Washington to speak on behalf of battered children,” says Hudd. ”I certainly take my hat off to her.”