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Show '. TARIFF ON LEAD IS IN JEOPARDY Up to Thursday the matter of a lead tariff had concerned the western statetf exclusively, the cast heretofore turning a deaf oar to tho protestations protesta-tions of the western mineral states, and tho west bad como to believe that tho eastern representatives in con-qresa con-qresa would come as they like In tho matter without regard to the fears J of tho west and to tho utter disregard of the east But one of the. weakest issues In many months was Smelters 3estcrday on the New York market, and one authority accounted for tho drop in tho stock several points and for tho largo amount of it which was on tap by the fact that it is feared the load tariff -will be reduced. How much of an authority this market mar-ket student may bo is a matter for conjecture, but his theory is interesting interest-ing at IcasL It Implies that the American Am-erican Smelting and Refining company com-pany ha3 a large supply of lead on hand, purchased at tho comparatively high i.inge that has pre ailed during the past few months and It implies further thau a recession In the market mar-ket price of the metal is imminent East May Help Vest. It would appear as If the west ma he able to work up a considerable sympathetic Interest among eastern investment circles In" order to make an effort to retain the existing tarlfi' on the metal, hut the wesL being move directly concerned for the reason that it holds the lead mines and Is so do- J pendent upon ic success of theso lead mines for Its general prosperity, nat-J urally v.-Ill be looked to b tho casii to make the burden of the fight to j retain the tariff. j It has been said that both the old j political parties agreed that the Payno tariff law needed revision, but that tho Democratic party belieed that r. downward revision was essential. There is no disguising the fact that every one expects the Pa ne law to he treated to a very close scrutiny at the hands of the comiug Democratic congress and that tho eastern lead manufacturer and consumer is going to bring a tremendous amount of pressure pres-sure to bear upon congress to have the lead tariff reduced or removed It is right up to the lead states, therefore, and Utah is included among the list, to demonstrate to congress thnt a tariff i3 necessary and that the present schedule is not too high Unless Un-less it can be shown conclusively thor the lead producing industrv needs the tariff it is going to he removed, and nothing pbort of positive evidence that the western lead Industry requires the tarifT to protect it against tho production produc-tion of foreign mines will suffice. If tlie western lead nroducor really needs the tariff he should not have an difficulty dif-ficulty in establishing this fact, and if he falls In making his proof, it will be pretty conclushe evidence that the industry does not noed protection |