HIDES CHEAPER.

Taranaki Daily News, 21 July 1920, Page 5

HIDES CHEAPER.

EFFECT ON BOOT PRICES. NO DECREASE LIKELY. The representative of a manufacturing concern was approached by •» Daily News reporter yesterday with the idea of ascertaining what effect (if any) the declining hide market will have on the price of f*>twear. In reply he pointed out that there were several phases of the question. An important one was that the manufacturer has to carry four to six weeks' stock at the lowest estimate, and allowing time for manufacture, delivery to the retailer, and gale to the public, it is at least two or three months before the purchaser gets the finished article. Consequently, when further stocks of hides are bought at lower prices, a similar period elapses before the footwear is put ion sale. The extent of any reduction in the cost of boots and shoes which may eventuate will be small, however, according to the reporter's informant, who directed attention to the fact that the chief class affected is sole leather, the upper leather keeping firm, and box calf, enromes, tan leathers, etc., are in no way concerned. In any case the decline of a few pence in hides Wag not expected to have a material alteration in footwear prices. A consoling feature, according to the information elioited, is that with the downward tendency of the leather market articles of footwear will be steadier, and some effect may be expected within the next few months. "The public have an erroneous idea that when hides are reduced," said the News' man's informant, "the prices of toots should show, an immediate decline, and even a branch of > the Farmers' Union passed a resolution in somewhat similar terms, and calling on the Board of Trade to investigate. It should not, however, take a very farseeing individual to understand that the ' manufacturer who has bought leather for a couple of months' output at top market prices cannot sell the finished artiele at a price proportionate to the latest hide market quotations, which may be lower." LATEST SALES.

At the usual monthly sale held by Messrs L. A. Nofan & Co., Hew Plymouth, yesterday, the market was easier, but prices were better than those realised at Auckland last week. Calf hides made 16Jd to 17%; yearlings, 13% d to 15Jd; cows, heavy lid to 12Jd, medium IOJd to lid, light IOJd to lOJdj ox, heavy. 13% dto U'/.d. ,