The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-08-01
HIGH SHOE PRICES
LAID TO EXPORTS
European Demand and High
Wages Blamed by Manu-
facturers.

The real reason for shoes jumping to
$50 pair and leather goods Of all
kinds soaring to impossible attitudes
is set forth in statement issued yester-
day by the National Boot and Shoe Manu-
facturerS Association. It Is this; shoe
and leather manufacturers of this cour-
try. planning to acquire enough leather
to meet the tremendous requirements of
the trade, have suddenly found them
selves N competition with leather buy
ers from Europe anxious to 60 to
any prices to obtain what they must
have. This has led to an unheard Of
bidding up Of prices. Back of this ar
tificiel condition, of course, is real
and legitimate shortage Of leather.
The boot and shoe men hold out alb
solutely no hope. They say frankly that
prices are going to be frightful this fall
and a lot worse In the first half Of 1920
and that there ia absolutely no way to
bring them down within that period.
But they do believe that II manufac-
turers and merchants generally will act
with common sense. not trying to buy
far in excess of their immediate needs.
and avoiding speculation, that the equi-
librium Of things can eventually be re-
stored. -,-s.
The statement, following meeting
held here by the boot and shoe men OF
the country, is as follows:
The shoe manufacturers OF the United
States deplore the unprecedented ad-
vances which have taken place In hides.
leather and shoes during the last six
months, and It Is the sense of this meet
ing that each one of US should do his
utmost to curb and check the advancing
market and discourage all buying OF a
speculative character. both among manu-
facturers and merchants. The present
prices of raw material are nearly double
the prices current six months ago. are
wholly beyond wartime or any other
experience and have now made neces-
sary prices for shoes far above any
with which the trade is yet acquainted.
We know Of nothing which. can quickly
relieve the present temporary scarcity
of materials or bring about lower prices
for shoes for the coming fall trade.
Shoes sold in the spring of 1890 must
bring still higher prices. based on the
present established prices Of leather and
labor, These are both excessive. far
beyond any past experience.
'aThe cause Of this situation is easily
to be discovered. The stocks on the
shelves Of the merchants have been de-
necessary by wartime conditions. All
classes of the people continue well sup
Piled with funds and eager to obtain
their usual supplies. The increased price
so far established has not checked In
any way the steadily increasing demand
from the consumer.
"Shoe manufacturers struggling TO
meet the increasingly large requirements
OF their trade have suddenly found
themselves In competition with leather
buyers from Europe, seeking supplies for
countries closed for several years by
the war. The actual and legitimate
shortage Of supplies has led to the bid
ding up of prices by these competitive
buyers to the present unheard OF and
= unprecedented level.
This situation can only exist so lone
as the unusual export demand persists
and this country's prosperous condition
continues. Any further upheaval abroad
a serious crop failure OF widespread
labor or political disturbance in ouI
country would cause an Immediate and
serious reaction. Extreme conservatism
A. therefore, demanded from all branches
OF the trade. Tanners. manufacturers
and dealers alike recognize the situation
MS dangerous and unfortunate.
I'VE see no reason to doubt that al
the worlds legitimate requirements fol
/ leather can be fully supplied from usual
sources, and that the equilibrium of the
market can be restored II manufacturers
and merchants generally will follow the
dictates of common sense, but all pur-
chaees far in advance of actual needs oil
buying In quantities in excess OF those
actually needed for seasonable goods
must stop.
This policy may bring about some
reduction In the volume OF business for
the next few months, stocks may be de-
uieted to a point .ower than ordinarily
considered advisable. and factory pro-
ductiop may be in some cases necessarily
reduced, but we are convinced that the
losses SO resulting will be insignificant
as compared with those likely to follow
any other course OF action.
sWhile this or amy other policy may
not reduce the cost Of shoes for the next
2 six months. there Is no warrant for tho
assumption that the tide now SO rapidly
rising viii not ebb, or that relief in some
form WI MOI. come during the latter
part - 1870"