FOOTWEAR PRICES

Dominion, Volume 21, Issue 87, 11 January 1928, Page 8

FOOTWEAR PRICES

' INCREASE PREDICTED WORLD SHORTAGE OF' LEATHER Dominion Special Service. Auckland, January 10. Boots and shoes are predicted to advance in price in the near future, and an early advance is expected. in the price of all leather goods. There is a world shortage of hides and the market has been steadily advancing for the last nine months. In March last best grades of cow hides were selling at Auckland sales at 7d. a lb. At this afternoon’s sale the market registered a further advance on 1927’s closing rates, and cow hides made up to 14|d. The movement is not a local one, but is the result of a world shortage, and values are regulated by the strong demand from America and the Continent of Europe. The market for ox hides has advanced from 30 to 40 per cent, over the period, while calfskin values have also moved up. Apart from the fact that there is reported to be a world shortage in hides, conditions in the overseas leather trade, especially among many of the bigger boot and shoe manufacturing firms, have improved during the past vear, and there is a healthier demand for most classes of leather goods. Cow 'hides which can be worked up into many of the finer fancy leathers are subjected to especially heavy demand, and to this can be accounted the comparatively greater increase. Leading men in the Hade interviewed in Auckland this morning predicted that, the increase in retail prices would take place within the next few weeks.