Elk City mining news. (Elk City, Idaho) 1903-1913, 1913-05-15
SUBSCRIPTION RATES:
Tariff Changes and the Metals.

public the generally expressed belief
was to the effect that the lowered
duties on iron ore would benefit the in
dependent producer rather than the
Steel Corporation. More careful study
of the bill discloses the fact that its
provisions are not all favorable for the
Independents, as the present duty of
So. so per ton on ferromanganese is in
creased to Is per cent ad valorem, or
So to SO per ton. Practically all the
ferromanganese produced in this coun-
try is manufactured and consumed by
the United States Steel Corporation, so
that the increased duty makes little
difference to the Corporation, though a
matter of moment to the Independents.
The imports of ferromanganese in 1911
were 80, 1858 tons, valued at So, OILS, 062.
Manganese ore, of which considerable
quantities are imported. remains on the
free list, and the natural result of the
new tariff, if it be enacted, will be to
stimulate the output of ferromanganese.
So far as the steel industry is concern
ed, the Underwood bill seems likely
rather to stimulate American industry
than to decrease it. In general, iron
and steel men seem less worried over
the impending changes than had been
anticipated. Present business is good
and the country is prosperous: Adjust
tnents are expected to be made slowly.
This year American furnaces will pro-
duce nearly half the worlds total of
pig iron. Since local consumption is
about 10 per cent less, a substantial
tonnage must be marketed abroad, ard
in order to do this American mills must
be able, an they are to compete with
foreign manufacturers in MURAL mar
kets. This being so, it is hardly to be
anticipated that foreign iron and steel
makers will be able to make serious in
roads on our home market. Iron and
steel will be brought in, but the total
amounts will be small in proportion to
the tonnage manufactured and sold in
the United States. To the extent that
Americans buy iron and steel abroad;
they will help raise foreign prices, and
American manufacturers have now a
market. At present American furnaces
are running nearly to capacity, but per-
iodically the demand Stacks off and
many go out of blast. The iron and
steel industry of the United States has
shown great powers of adjustment. 1t
will call for any greater change than
that made in the years 1910 and 1911.
If by large participation in the world s
markets a greater share in the making
of these periodical adjustments be
passed to European iron and steel
makers, the local industry will be help
ed rather than harmed.
Metal tariff changes of especial in
terest in the west relate mainly to lead,
zinc, and anthony. Decreases in the
case of all three are proposed in the
bill pending. The reduction on pig
lead will amount to approximately 60
per cent, and on lead ore triAe more
Spelter rates are reduced about SO to
go per cent and anthony about 60.
Closer figures cannot be given because,
coincident with the reduction, there is
a change from the specific to' the ad
valorem basis. 1t is anticipated by
metal dealers that the new rates will
cause retention in this country of lead
smelted from foreign ores when lead
sells at 81. Is and will permit Importation
of spelter or retention of metal made
from foreign zinc ores at about the
present prevailing prices. AS to anti
mony. merely the matter of revenue
alone need be considered, since domes-
tic production is unimportant. The &C
valorem basis avoids some causes fol-
controversy, such as those relating tt
tariff on lead in zinc ores, but raise:
others, since the true value at the
point of Importation is not easily fixed
1t is contended that the changes viii
lead to lower prices for ores and thai
there is not sufficient spread between
ore and metal rates, but it is impos
sible to be certain of results in ad
lance. Mining and Scientific Press