THE LEATHER MARKET.

Otago Daily Times, Issue 20320, 31 January 1928, Page 10

THE LEATHER MARKET.

AN ADVANCE IN PRICES. _ BOOTS BECOME DEARER, Reports from all over the world announce advances in the price of leather, and reports from England state that as a consequence there will be an increase by manufacturers in the cost of boots. So far as New Zealand is concerned there have been aV least four advances in the price of leather since June of last year, the total increase representing no less than 65 per cent. To show what these advances represent it may be stated that one line of sole leather which was priced at Is 7d per lb in June last is now quoted at 2s lOd, and that a standard line of ■ upper leather has advanced from lOd per foot to Is 4d per foot over the same period. It is rumoured in tannery circles that one exporter is prepared to operate in the New Zealand market to the extent of 20,000 hides per month, without any buying limit. Whether that rumour be correct or not, it is a fact that shoe manufacturers to-day are called upon -to pay a considerable advance for their leather supplies. Moreover, reports frem London show a month bv month advance in the cost of leather from about the middle of last year, and it is recognised that the peak * prices have . not vet been reached. The world supply of hides is short, and the latest information to hand is that the shortage will continue, with, of course, a corresponding increase in prices. When it is added that the South African hark required for the tanning has increased in the past 12 months from £lO 7s 6d per ton to £lB 15s, it will he seen that the prices of boots and of other general lines of leather goods must '•© afected. Boot manufacturers are, faced with manv difficulties. Under the present world market conditions they are being forced to pay more for their leather supplies, and this "advance adds to the cost of the bon*s turned out. On the other hand, the public demand is seriouslv restricted when prices advance. Still, tanners have ro secure hides, no matter what the price "’ay be, to keep their businesses going. The same position applies to boot maim facturers. They have to secure leather, no matter what the price may be, also to keep their factories going. The present state of the hide market is giving tanners very great concern, and no one can speak with anv authority on what is to happen within the next month or two. One thing is certain, however, and that is, that boots cd shoes 'are going to he dearer. In fact they are dearer alrendv.