AMERICAN WOOL DUTIES.

Dominion, Volume 4, Issue 1205, 14 August 1911, Page 7

AMERICAN WOOL DUTIES.

COMPROMISE ON THE BILL. Bγ I'clcera.ah-I'r.tss Associatlon-OuDrriizbl (Rec. August 13, 5.5 p.m.) Washington, August 12. Tho Senate and House of Representatives after numerous conferences have arrived at a settlement on tho disputed Wool Bill, the duty on raw wool being placed at 29 per cent, ad valorem. The President's veto is-now feared. The carpet wool rates have been increased from 10 to 29 per cent, ad valorem, and ordinary wcols have been reduced. THE WOOL TRUST AND TEE PUBLIC. A dispatch published by the New York "Evening Post" in May last stated:—"The fight among the Democrats of the House of Representatives over the tariff to bo levied on raw wool is likely to bo compromised on-ft basis of five cents per pound, the present duty being 11 cents. It has developed that tho leaders of the House arc doing missionary work on a five or six-cent, basis, ami the fact that a majority of tho Democrats on tho Ways and Means Committee favour free raw wool makes it. likely that the lowest figure considered, in a compromise will be the ono agreed upon. "Reduction of the wool tariff or placing wool on Mis freo list would not have the slightest eifect on the' price of either raw or finislied wool, declared Representative Francis of Ohio, in a statement explaining his reasons for asking a Congressional inquiry into tho American Woollen Company. That corporation, he said, controls absolutely mills with a capitalisation of 09,000.000 dollars (.613,800,000), .scattered through New Englnnd, Now York, and Pennsylvania., and prices arc arbitrarily fixed by the so-called 'woollen Trust.' Ho said ho was not in favour of free wool, and hoped tho proposed investigation would convert those of his fellow-Democrats who wanted to revise tho tariff along that lino."