U.S. businessmen had rarely basked in a warmer glow. As it reached the 39th month of economic advance, the U.S. economy was in the midst of the longest peacetime expansion in modern history. First-quarter profit reports from every part of the U.S. showed that corporations were earning on the average of 20% more this year than in 1963. General Motors' earnings of $536 million were the highest for any company in any three-month period in business history, and huge profit gains were reported by giants as varied as Eastman Kodak (up 25%),...
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