| Show Sit SILVER VER IS HIGHER LAD LEAD AND COPPER V SLIGHTLY LOWER a high this thin morning Silver made a new when the tho was vas marked up to cents an ounce L Lead Lad ad was re reduced reduced ro- ro fractionally to 41 J cents per pound and copper was marked down down downto V to 1730 1731 cents a pound The agitation of or the lead tariff IB Is responsible for tor the present market market mar mar- mr- mr ket condition and of t this one ne nuth auth authority rl has al tho the tolo following to say sar x American Smelting and Refining's re recent recent recent re- re cent reduction In the price of pi pig lead fro from 5 G cents to 7 cents cent and then to IO I cents a a pound Is looked upon as n the natural sequence of ot the present dullness in demand which Is attributed to t fear of or lower duties on the met metal But it Is not thought dute likely that th the Underwood bill will m be passed in Its Is original form for as JUI one lead man said that bill bl like a I street car cr platform evidently was In Intended intended In- In tended lende to Uto get cot In on on not to stand on Now that tho the Democratic party paty has hu tho the thoIs Is issue upon lt its It shoulders shoulder It I is II not likely to t enact such a a. a measure Into la law The same ume man remarked remark d For twenty five tho years years' the south which furnishes fur tur- Democratic its majorities majori the par pary y Is major major- ties tes has had hal been ostensibly subscribing to toIs its Is platforms which have demanded free tree trade trado trao our thrift tariff for revenue only etc knowing welt well wel th that t the Republican party would see that they did dh not flOt got get ft it for tho south needs protection on on its lumber cotton Iron etc While colon sugar Irn a a great part o of this agitation was without question question que- que ques ques- tion ton insincere the fact fact that the tho Democrats Demo Demo- crts are o stron strongly ly in the thc house houte and senate exerts a disquieting In Inu In- In fluence u nce Lead Is II no now selling abroad at atthe the equivalent equiv alent of cents here The Underwood bill bl provides a I dut duty of ot 25 5 per percent cent ad valorem valorem val val- orem which would amount to 1 cents per pel pounds and would allow lead led to be laid down in New New- NewYork York c. c i. i I f. f and duty paid at al 5 cents a pound Domestic lead is selling at cents a a pound so It appears appears ap ap- ap- ap pears peas that that reduction proposed in hi the Underwood Un Un- derwood den bill bl would not affect affect ead lead under present conditions But the tue fear is II not noto so o much as to what wha t would happen to the tho metal under J present resent conditions as al what might be the result later latel with a dull dul market market mar mar- hat ket ket and contracting dem demand nd All lI lead products aro arc aSes assessed ed at tho the same rate of duty as pl pig lead Iud In the Underwood Underwood Un Un- derwood bill so eo that all al the protection afforded to the labor Jabor involved Is 25 per percent percent percent I cent of oC Increased value alue of of the product Manufacturers U say sa that this protection la ha 18 wholly Inadequate The ayera average e spread between raw material arid and manufactured manufacture goods in the Aldrich bill bi amounts amount to about seven eighths of a cent a a. pound so 0 that regardless s of be the opinIon opinion opia- opia ion of oC larger larer Inter Interests t in primary markets the small smal buyer is 1 likely to assume a Jo lower low low- er or basis basin of ot cost under these thee assume lower duties dutes if there I Is II an any ct that the Underwood Under tinder wood bill bi will ivill wi pas and IncOn Inconsequence re reduce reduce re- re duce duco stocks tocks and defer bung buying It is 11 possible pos poe sible therefore that ho the trade s js In for tor fora tora a long long siege lego of dullness l. l especially of oC the fact that tha foreign prices have plenty plent of or room rom to drop The average price of or lead In lu London during the last four years enn h has been n nearly 1 I cent a pound under the present price and if I the present price should get ge back there it can be seen that lead led could be laid dO down l from abroad c. c I. I f. f and dut duty paid under the Underwood bill at about 4 cents pound half bl per or hal a a cent below the present re nt price |
