STATE OF BUSINESS: Proof of the Prophet

Last January General Motors President Harlow H. Curtice boldly announced a new $1 billion expansion program, and predicted that G.M. would build more than 3,000,000 cars and trucks this year. Said Curtice: "No depression is in my vision." Last week, when G.M. issued its report for the second quarter, the figures proved Curtice a good prophet. Sales of $2.6 billion were 7% below record 1953, but net earnings, helped by the death of the excess-profits tax, reached $236 million, up 47% from a year ago and second highest in company history. Sales of cars and trucks from G.M.'s U.S. plants...

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