The Collaborative International Dictionary of English v.0.48:
scuttlebutt \scut"tle*butt`\ (sk[u^]t"t'l*b[u^]t`), n. 1. See scuttle butt. [PJC] 2. A drinking fountain on board a ship or at a naval station. [PJC] 3. The latest gossip; rumors. [PJC]WordNet (r) 3.0 (2006):
scuttlebutt n 1: a report (often malicious) about the behavior of other people; "the divorce caused much gossip" [syn: gossip, comment, scuttlebutt]