Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-04-17
FORMULATION OF TARIFF BILL
REVEALS EXISTENCE OF 81.
eANTIc COMBINE.
HOPED TO USE TARIFF
.LsnHl 3ulM-o7AoM Hoi
Mr.. Lssberser Declares That eussen-
helm Interests Only Would Benefit
From Tariff Rate Insisted Upon by
Senate Finance Committee Lead
Users at Mercy Of Combine
Especial correspondencel

Especial Correspondence
Washington, April 17-With the
charge that the lead, producing bust
ness of the United States is now con-
trolled by the Guggenheim Exploration
Company, and that steps have been
taken for the formation of world
trust in lead. Milton L. Lissberger, of
New York, is here making determined
protest against the lead schedule in the
Aldrich bill. The Payne committee re-
! duced the duty from rs to ~ cents.
The manufacturers We're willing to al
low 1-cent duty, which they showed
would be equivalent to about IS per
cent. They We're not by any means
satisfied with the action of the Payne
committee; but when the -Aldrich COM
mittee restored the present duty of
21s cents, per pound, they INDUCED
in some language which they always
mention is not to be printed, and which
nobody would print even without the
caution.
Mr.. Lissberger doesn't mince Ian
guage in his charge that the Guggen-
helm interest is the one which will
! benefit by this duty. and which has
/ been back of the movement to pre-
! vent reduction. The house committee
/ he says, became convinced that the
present duty was too high, and cal
culated to serve as shelter to a mo-
nopoly which was extorting unreason-
/ able prices. But the senate commit
4 tee was determined to have the duty
/ prohibitive. "One of the members of
the finance committee" said Mr. Liss-
berger, told us that they didn't read
the documents, briefs, arguments, etc.
which we had forwarded to them;
/ they just made up their schedule with
! out it; but he said he hoped to get
/ time, now that the bill has been re-
/ ported to read up on it,
Reveals Inside of Trust.
Mr.. Iissberger makes most inter-
esting statement of the inter corporate
relations of the concerns which he says
/ constitute the lead trust. He has set
| them all out in brief which is being
furnished to members of congress. The
Guggenheim Exploration Company,
I
be head of the trust. 1t pays regularly
10 per cent dividends. and in the sin
gle year 1906 added s6,s93,OOO to it's
surplus. Its directors include five of
the seven Guggenheim brothers, Sena-
tor Guggenheim, of Colorado. is of this
family, tho not now on the directorate
of this company.
The American Smelling and Refining
So INol NJ;
Smelling Company, National Lead
Company. United Lead Company, and
Magnus Metal Company. all giant COR
porations in the lead business. are al
| legged to be the more important con-
errns in the chain making up this Gug-
genheim lead trust Mr. I4essberger
presents as evidence of their interrela-
tionship, the statements furnished by
| the companies to Moddy's Manual
showing that the same men serve as
directors in various companies in the
chain, and also that the companies
have reported contracts among them
selves, and stock holdings by one in the
other proving that in fact they make
up one great concern, amounting to a
Guggenheim lead trust. Each of these
big concerns. in turn, controls a long
smelling and refining plants in all
parts of the country Mr.. Lissberger
charges that the related concerns, eth
err by ownership or by agreement with
rival producers. completely control the
lead business of the country.
At Mercy Of Trust.
pig lead" said Mr.. Lissberger, ais
worth 80 per hundred in London, and
w., Tba nh
use lead, in all sorts of manufactures,
in this country, have been willing that
a tariff of cent per pound be re-
tanned They petitioned for it in fact
1t would provide ample protection to
capital and labor in the industry In
stead, we have the old rate, under
which this trust has grown up to mo-
nopolize the business. forced upon US
There is no competition today, and
the manufacturer and consumer are
absolutely at the mercy of the trust
Under the Wilson bill the duty was
only cent. and yet the production in
cEeased over SO per cent in this coun-
\ try. Under that law, the average price
| in New York was just about cent
higher than in London; while under
the Dingley act in 1906 the New YORK
price averaged LA cents higher than
! the London price. The imports under
the Dingley rate have been just about
the same as under the Wilson rate
showing that the Dingley rate is really
prohibitive; the trust can raise the
price above world prices, and yet not
have any foreign lead come in. The
/ fact is that it can manipulate prices
precisely as it pleases, and does"
Mr.. Lissberger doesn't expect that
any concession will be made to the de-
mand of the users of the lead, but he
is getting a good deal of satisfaction
explaining the situation to insurgent
senators who are preparing to make
an attack on this particular schedule.