Business: WASHINGTON'S CHALLENGE TO IBM

In many ways, the most successful modern American industrial enterprise is International Business Machines Corp. Its primary field, high-speed data processing, is barely 20 years old, but IBM has risen to rank among the ten biggest U.S. companies, with 1968 sales of $6.9 billion and profits of $871 million. With a reputation for excellent technology, marketing and servicing, it dominates the computer business at home and abroad. The company's smoothly aggressive and generously rewarded salesmen have captured about 74% of the U.S. market. Investors value IBM's prospects so highly that its 112.7 million shares are worth a total of...

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