THE TARIFF: Up: 3 ; Down: 4

Last week President Hoover started the Hawley-Smoot Tariff Act on its second year with a cautious bit of rate-flexing. On recommendation of the Tariff Commission, he upped the duty on dried eggs (from China), hemp cordage (from Italy) and bicycle bells (from Germany). He lowered the duty on bentwood furniture (from Czechoslovakia), olive oil in pack- ages (from Italy) religious and commercial organs (from Canada). He agreed with the Commission that no flexing was needed for the rates on pig iron, cheese, hides and skins, olive oil in bulk or cast bells,...

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