HIDES AND LEATHER

Dominion, Volume 13, Issue 220, 11 June 1920, Page 7

HIDES AND LEATHER

THE AUSTRALIAN MARKET. The price of hides andjeather was referred to at Auckland on Tuesday b,v Mr. W J, Holdsworth, who returned fram_ Sydney on Monday. He said tho position of the market in Sydney and Melbourne lm<l altered considerably owing to tho overseas trade coasing. Australian tanners and hoot manufacturers had' found markets in Britain, South Africa, India, and the Islands, but owing to a heavy drop in the price of leather in Britain this trade had practically ceased. The positioiP at present was very hard to gauge. While prices would certainly drop it was not anticipated that they would reach prewar standard. Gltvcp kid, raw 'material from India, had dropped from 230 shillings per do?en to 130 shillings. The rate of exchange being against Australia had something to do with this fall in prices, becauso manufacturers ceased buying at high prices, being content to 1 substitute other leathers. There was an easing tendency in sole • leather, box hides, willow hides, and calfskins, but sheepskins were firm. ' Those in the trade who were in tho best position to judge did not anticipate j heavy drop at once, but believed that the fall would be a gradual process. . The drought had caused a shortage of ■ good hides in Australia, hut the gen- ] tral trend of the market would cause j nn easing tendency in the prices of boota in the immediate future. Experts were of the opinion that tho new standard nf prices for footwear would be between i pre-war rates and tho recent inflated , prices. Large business firms in Australia were j] of the opinion that the recent fall in f soma commodities was due to tho banks } censing to advaucc money for the nur- - 4 pose of speculntipj) in raw materials, t This, they contended, would have tho r effect of putting trad© on a sounder e footing. t Notwithstanding the .difficulty experi' c eneed in wnenring bnildin? material ]■ find skilled labour a tremendous cspan- t dion in trade was noticeable on till t' sides. Almost every business man 'en- C raged in the leather _ trade was doiib- p liner the cuoacifv .of his premises. They v were confident they had a splendid future before them consistent with sound o legislation. . e<