Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-08-13
Local Leather Dealer Dis.
cuSseS Price of Hides.
1T IS SUPPLY AND DEMAND
Duty OF; Some Go Up, Others
Down.
PACKERS CORNER THE MARKET
Ownership Of More Than Million
Hides Lets Them Hold
Up Price.

1T is interesting to note the effect Of
the tariff" said local dealer In lea ther
products today. so far as Ii concerns
leather which is used for the manufacture
of boots and shoes. II would seem that
the law of supply and demand is more
potent than the tariff in regulating prices.
There is no duty on calfskins or hides
which do not exceed twenty-five pounds
In weight. yet they are worth more today.
fully 30 per cent. than ever before. These
are what boots and shoes are made OF.
Indeed, they are used entirely for that
purpose.
"Other hides. upon which also there will
be no duty after October 1. are now from
IL to , cents pound lower. and leather
generally has declined from 3 to cent,
a pound since the recent tariff legislatie
And yet. singular as II may seem, hides
are really scarcer than they used To be.
because 1t Is more profitab BILE to save cows
for dairy purposes. the price of butter
and cheese being quite high. 1t costs a
good deal to fatten steer for his meat
and hide, but considerably less to feed a
cow.
Chicago packers foresaw what was GO
ing to happen with hides In the tariff bill.
They went to Europe and even 10 the Ar
gentine and practically bought up all the
hides in sight. cornered them, and today
there are more than 100000 hides stored
in bonded warehouses In this country
which will come into entry October 1.
when the tariff bill takes effect. These
packers did this to protect their own do
nestle hides and their own leather in
dustry.
Don't Sell Domestic Hides.
These men never sell domestic hides.
They tan them themselves. Under the old
law they could bring foreign hides into
the country under bond, tan them and
sell them abroad at a splendid profit
without paying any duty at all. They
knew they could do this in case hides
were not put on the free list by the latest
bill. and they had nothing to lose in cor
nering hides the world over.
''As 1t Is, their ownership of these more
than 4,O0OOOU hides enables them to hold
up the price of their own product as well
as the product generally. II they should
take notion to throw them on the mar
ket hides would naturally break in price
and leather would go down like a shot;
but they know their business.
The ownership OF all these hides UNI
der existing conditions, with no duty.
does not mean SO much to them In dollars
and cents as it did when duty was
chargeable. for now they will come into
competition with all other tanners.
Would Wipe Out Profit.
THE average steer weighs from 1.Ww
to 1000 pounds. If the packers should
agree to take of 4 or Il cent a pound. it
would mean from $3 to So on each steer,
which is more than there is in the value
of the hide.
THE duty on taIlow was retained by
the new bill, yet tallow Is duller I'm the
market today than 1t has been for years.
More of 1t is exported than Ia used i'm
this country. l do a. pretty big business
in these products, but l haven't sold a
import duty on tallow last year was less
than $4,000. yet for some reason-no one
knows why-the duty was retained.