SOARING P^JCFS

Poverty Bay Herald, Volume XLVI, Issue 14987, 14 August 1919, Page 3

SOARING P^JCFS

AMERICAN FOOTWEAR. TO BE

STILL DEARER

(Special to the Herald.)

CHRISTCHURCH, this day

A prediction" that the prices of American footwear and leather would reach a higher level next year is contained in a private letter received by a Christchinch merchant from a gentleman enL'aged in the industry in. the United Suites. The writer states that there seemed no end to the advances that were being placed on all kinds of material that entered into shoe-making. It was not only on the leather side, but the condition to-day was that as far as purchasing power was concerned one dollar was worth less than 50 cents. For this reason all kinds of leather were from 100 to 200 per cent, higher than before the outbreak of war ; yet general business was never better, and everybody was at work and earning large wages. It was the first time" in 45 years that they have, had to curtail production simply because they could not get materials. Tlie foreign demand bad been tremendous, and it had stimulated prices more than any factor in the trade. Prices for "il '.-inds of skins in the hair were higher to-dav than, ever before. The demand meant that all kinds of leather prices would be higher before January 1. or else the tinners' would have to stand big losses. That they would do this was not verv probable? Shoes in England. France pud Ttalv were selling at retail for 30 t' 40 per cent, more than, they were in ♦ ll - T*pit"d States, qualitv and workmanship being taken into account. There d : d no* seen any possibility of any reduction of nn'"es for another year, and every tlibv? pointed to tbe fact tha* dun'mr the n--""* year prices would be on a higher basis.