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Show Utah Lesd-Zim ".'inino Boost Seen In President's Plan f ; 4 Otto Herres . . . praises metal stockpiling plan. Expanded stockpiling program recently announced by President Dwight D. Eisenhower, if properly administered, will provide a strong "shot-in-the-arm" to revive the lead-zinc mines of Utah and the West. That is the general opinion among Utah's mine operators, as expressed recently by Otto I' :-:t.-;, Salt Lake City, chairman of the National Lead and Zinc Committee. "The domestic lead and zinc industry is disappointed in the decision of the President not to approve the clear-cut case for the restriction of excessive imports from countries of low wages and depreciated currencies recommended recom-mended unanimously by the Tariff Commission," Mr. Herres said. "However, the stockpiling program will mop up what remains of over-stimulated over-stimulated foreign stocks and thus permit lead and zinc prices to return to a more normal level." President Eisenhower, in rejecting reject-ing the proposal for increasing lead-zinc tariffs, announced a program pro-gram designed to absorb into the national defense stockpile the accumulated U.S. and foreign lead and zinc surpluses. This will be accomplished by purchases of newly mined domestic metals up to 200,000 tons of lead and 300,000 tons of zinc during the current fiscal year and the purchase of foreign lead and zinc from the proceeds of the sale of surplus agricultural commodities such as butter, wheat, and cotton. The President s plan also includes action by the State Department De-partment to seek wngnition by foreign countries which are princi- pal suppliers of lead and zinc that stockpile buying is designed to help domestic production and not to stimulate greater foreign output. "P: ' -bly the real accomplishment accomplish-ment of the industry's campaign for relief over the past two years," said Mr. Herres, "is that the administration ad-ministration has come to recognize the importance of the domestic lead and zinc mines to the welfare and defense of the country. This recognition is evident in the wording word-ing of the President's decision and his promise: 'If the course of action above outlined has not accomplished the objectives I seek, I will be prepared to consider even more far-reaching mrsuvp- and to make appropriate recommendations to the Congress'." |