To describe the mood of the U.S. economy last week, businessmen were telling the story of two Vermont farmers.
Said the first: "Did you sell them pigs yet?"
"Get as much as you expected?"
"Nope," came the reply, "but I didn't expect to."
Many businessmen candidly admitted that they had been guilty of a little Vermont optimism in year-end forecasts for 1960, and are now revising their estimates. Even with the revisions, they still expect 1960 to be the most productive year in U.S. history.
President John F. Smith Jr. of Inland Steel Co. estimated that 1960 steel-industry production will hit 120 to 125 million tons,...