AMERICAN FOOTWEAR.

Taranaki Daily News, 14 August 1920, Page XI

AMERICAN FOOTWEAR.

PIiOMISE OF CHEAPER SHOES. "The peak of price 3 iu footwear has been reached," is the -ihe»rmg news: that comes from the annual meeting of the Tanners' Council. The Executive Committee adds, however, that "it will take three or four months fgr tjie effect to reach the consumer." In Philadelphia, we learn, shoe prices already have declined, "despite repeated predictions of shoe-dealers that shoes faust be higher (in price) in the fall." Evidently ihe3e dealers are unaware that filie demand for leather for military purposes no longer exists, and that Argentine that had to be stored during the war because there were no transportation lacilities are now flooding the markets of ■the world," remarks the Topeka Capital. Boston commercial reports also predict a fall in the retail price of shoes, says the Boston, Transcript, because "people have no intention of continuing to pay war-prices for leather." To the statement that shortage of leather and labour sends up the price of footwear, the Philadelphia Public Ledger replies that "it is idle to talk about a shortage in either shoes or labour when the shoe manufacturers can export... .s»oes at the rate of 1f1,G00,824 parts a year." -Further, we are told by, tin Milwaukee' "the prices which the people of the United States are forced to pay for American-made shoes are double end treble what they bring in foreign countries." The New Ytfrk Evening World quotes official trade figures of the United States to show that the export value of men's-footwear is 3dol. 43 cents, while women's shoes are exported at 3dol 38 cents. Other Washington reports reveal wholesale export prices to bo from 81 to 98 per cent, below home figures, and that a million pairs of American-made shoes are being shipped abroad monthly, we are told in the New York Evening fun. This possibly is one of the facts which leads the Indianapolis News to conclude that "there is no prospect of lower retail prices for shoes." "The failure of the European market and the pressure of the banks for payment of loans made on speculative stocks of lea-! ther have brought about a 'softening' of prices iu that product," declares the Brooklyn Eagle, and this paper further predicts that "another reduction in shoe prices is to be expected because manufacturers have taken alarm at the growth of the public belief they are profiteering." As if in support of the Eagle's theory, the New York Tribune comes forward with. statements that "Buyers refuse to pay prevailing high prices Jobbers will have to cancel many orders already placed with manufacturers unless business increases. I

Salesmen on the road report that retailers refuse to place large fall orders unless manufacturers reduce their prices." These and other signs lead the Springfield Republican to iMchide that "the public is getting over its debauch In shoo finery."

The Now York Journal of Commerce also predicts that shoe prices will bo lower next, fall, because there has been "a slackening in the raw-leather market." The economy movement now sweeping the country is having its effect, we read, and "small retail dealers are said to -be disposing of their stacks at lower prices because they will be unable to sell them later." Continues this newspaper in a resume of the situation;

"Recent developments in the leather market as it relates to the manufacture of shoes indicate that retail prices of shots will be much lower. According to those in touch with the situation, the decline in raw-material prices has been shaxp. "Lower prices for raw materials will be reflected in the retail markets' next and many retailers expressod the opinion recently tha/t prices will continue on their downward course even after that time. Many retailers made no secret of the fact that they would welcome a general reduction, for they feel they will be able to do more business and will not have to, <jjit into their profits by making arbitrary reductions m order to attract business."