The times. [volume] (Richmond, Va.) 1890-1903, 1890-08-21
rue PRICE OF LEATHER.
c.,.c. Contributing to its i,ise-"ir rr""'
ut Hand.


ut Hand.
pr;ces for leather and hides have recently
undergone decided advance. Messr7.
palen. Nelson 4 Co., give the reaso"' w
the ADVANCE as follows at has neen w.,
narent 10 a close observer for seVerai li'oh,no
nos, that the downward course OF the niuc
apnd leather market would bc stald NJ an
early date. and that a very strong reactivn
would follow. The whole course Oh tde
market FOR hoth hides ana iea'nel
for ten years mas been oeeneoi!, ~.
the decline. and there has Al
n shrinkage Of values since lo'V oi av"1' ~
NOR cent. During this time there nave Deeh
,yo or three periods wherein there has Deeh
cory slight advance. This mas De'n
0uickly followed by a decline that has wiped
ont more than than the four to I'VE per cent.
annreciaton. For the past twelve nlohlns
Inc tanners Of the country have been N"'h-
inc hides 10 their fullest caparity' mere
has M no time been any surplus leather a.
tile heads OF the market, say IN New OF
or Boston. This surely Indicates tnat tle
consumption has been equal 10 tue pio-
ducing capacity Of the tanners. DurihS lpC
na-t few weeks tanners have realized rom
10 10 - per cent. advance ON heml0ck
sides. while the appreciation on OAK ana
union leather is probably not more tlah One
half of this amount. except on Hght coih-
mon stock OF union, which was held III sur
plus and has now been cleared from tne
market. Three 10 four cents pouhd II
readily current for this class OF leather over
the prices in June last.
"ihe most active season Of manufacture,
ING is now al hand. and the requirements Oh
the Eastern and Western trade VIII Dt uh-
/ urecedenfed for the next three or lOuf
months. This home demand, together with
exports. which latter is a large factor IN
goyernenng the prices Of leather. Is quite
| likely 10 maintain prices, and the best IN
| formed look fer a still further appreciation.
| "Ilides are also dearCr by cent pound
over the lowest pOint OF the past current
rate. and they are held firm AT the advance,
though the sales have not been large OF late,
! Chicago packer hides have also advanced
materially, especially in COW hides, Whlcn
| were sold in the spring at - 10 "a GEMS.
| The last sales reported were at - to y
cents-an advance OF nearly 30 per cent.
This class OF hides, cows, are mainly uscd
| for unper leather or grains, which -
an imitation OF morocco. the low price Oh
manufactured goods did not warrant the
| tanuers iu running their works 10 lull ca
pacity. which produced large acchmpla-
lion of light hides in the Chicago market.
The price. however, emptied the sole lealnei
tanners, and they went into the market III
the early part Of the year, renewing lne
| packers OF all this class OF goods Tor Sole
leather, which will tend 10 make tue pro
duet Of grain and splits materially less lor
some time 10 come. The advance IN upper
leather. especially In grains. has been about
three cents a foot. and IN splits two or three
cents "a hound. and in some cases, we UNI
derstand. three cents is paid for certain
GRADES. Both tanners OF sole ana upper
feathers feel iubilant at the situation
Manufacturers Of boots and SHOES nave
realized a moderate advance on TIER lower
grades of goods. say from - 10 "a per cent
but on account Of the recent advance III tne
prices Of stock will require more than TINS
To bring them out with TOht ANA tuey
are not likely 20 enter into new contracts
unless they are able to obtain remumeratNe
piicCs
MIR. G.. B. Horton. who is also an all
thOrity on the matter, gate this version yes
% ternay: ",0le leather has undergone re-
cent advance of from lO 10 j. per cent. a7
10 the history Of this boom, % would take q
great deal of time tO recount all the CAUSES
which have tended o. produce 1t. How
ever, it can be said that some seven or eIsh'
years ago considerable number Oh m,
larger shoe manufactures carried ~ STOCK
several months supply of shoe leather.
But about that time they began ~
decrease their supplies and carry less stock
II has taken several years 10 reduce lht
surplus. and as 10 was gradually tlIo"l
upon the sole leather people, they were
Obliged 10 carry il or sell IL at the best hSur'
possible. During this time very little money
wa. made by the sole leather tanners, ahu
their profits were al "a minimum. Ibis en-
tire surplus which was i'm the sole leather
tanners hands, has now found "A mdrket
Consequently. the entire country f. Niinou'
surplus stock. and q natural corner j. ihC
result. All buyers of sole leather are now
dependent upon daily receipts for their SUP"
ply. The quantity available for the nest
lew months cannot Dee increased. az ID
takes SIX 10 seven months to tan SOB,
leather sales this week for export dit
: small, parity owing 10 the scarcity OF olil-
able stock and more largely by the anxiety
lOf shoe manufacturers to get enough sole
/ leather % make up shoes that they nave
81 already taken orders for. The total exports
for the first seven months Of this year nave
been 90 80 sidcs-an average per month oil
l.S. gO1 sides. In l,>9 the total exports WerC
I.G31.ll4. or an average OF l30, 1926 sides per
month. Dry hides, taking Bueno- A}res
hides as standard. have advanced from
49, 10 lJi5 cents. The supply Of h'de- j.
not stinfed. but the fact that leather D.
scarce and that 10 will take such length
of time 10 equal the demand is the prime
cause Of the so-called ho0m.-Commcrcla
Bulletin.