WORLD'S HIDE MARKET.

Auckland Star, Volume LXVI, Issue 70, 23 March 1935, Page 4

WORLD'S HIDE MARKET.

Writing on February 14, Messrs. W. Weddel and Co. report as follows:— The fall in the hide market appears to have been checked. The tone has been better in tho U.S.A., who have been mainly responsible for the buying. In addition, Europe has taken some hides, although many buyers here have as yet failed to appreciate the firmness of the position, or rather have the impression that there is no immediate likelihood of any advance in hides being paid. This should force them to operate now. No one can see how the position will be when the Supreme Court of the U.S.A. has given its decision on the "gold clause." This would appear to be the one obstacle in the way of improvement. New Zealand hides continue to be scarce and bold for 4%<1 to 4%d for freezers and %d less for abattoirs. Country hides are wanted, but there are none to offer. Prices are generally firmer for all grades of leather, but there is a complaint throughout the country that manufacturers and factors are both operating on a small scale. If the hide market continues to remain on the present firm basis, leather should be more freely saleable. It is quite clear that tanners will not be tempted to take any quantity of" raw material until leather stocks have been substantially reduced.