THE LEATHER INDUSTRY

Otago Witness, Issue 3414, 20 August 1919, Page 9

THE LEATHER INDUSTRY

PROSPECTS IN AMERICA. STEADY ADVANCE IN PRICES. (Feom Oub Own Coreespondent.) CHRISTCHURCH, August 13. In a private letter to a Christchurch merchant a gentleman engaged in the footwear and leather industry in the United States mentioned that there seemed to be no end to the advances that were baing placed on all kinds of material that entered into shoe making. The condition to-day was that as far as purchasing power was concerned one dollar was worth less than 50 cents, and for this reason all kinds of leather were from 100 to 200 per cent, higher than before the outbreak of war. Still, general business was never better, and everybody at work was earning large wages. "it was the first time in 45 years that they had had to curtail production simply because they could not get materials. The foreign demand had been tremendous, and it had stimulated prices more than any factor in the trade. Prices for all kinds of skins in the hair were higher today than ever before. The demand meant that all kinds of leather prices would be higher than January 1 or else the tanners would have to stand big losses. That they would do this was not very probable. Shoes in England, France, and Italy were selling retail for 30 to 40 per cent, more than they were in tho United States, quality and workmanship being taken into account. There seemed no possibility of any reduction of prices for another year, and everything pointed to tho fact that during the next year prices would be on a higher basis.