Show e StOCk Situ pit Los Angeles Feb 22 Much 22 22 Much ruch of the present depression dc in the cattle mar mar- markets markets markets undoubtedly is due to the fact that hides have dropped to almost the Jow lowest t levels in a gre great t many years Hide prices now are arc not much higher than the they were in the serious depression which followed the world war and it is not production over-production of leather or the fact that there is a 1 larger number of hides available than usual As a matter of fact leather and hide stocks are arc less than nomal and still the market continues to de- de decline decline de decline cline Hides in Los Angeles are no now quoted at practically one-half one the value a year ear ago Competition from substitutes is the reason given for the present ser ser- serious serious ser serious ious condition Last year ear for in- in instance instance in instance stance manufacturers of composition soles took awa away from leather tanners an amount of business equivalent to the product of hides Com Com- Composition Composition Composition position sols cols according to the shoe manufacturers manufacturers arc less dress dressy and less con comfortable than leather but can be made much cheaper Despite the fact that American shoe manufacturers manufacturers made more shoes in 1928 than in 1927 the amount of sole leather used was 15 percent less Foreign competition n is also hitting American leather manufacturers more so than in many years due to cheap foreign labor and what what- many manyin manyin in the trade deem totally inadequate I tariff protection An authority in the Los Angeles trade declares that the reduction in hide values during recent months is equivalent alent to to per hun hun- hundredweight hundredweight hundredweight loss to the packer on every steer he buys While many other packinghouse products by-products from cattle are enjoying a good market particularly p livers and hearts the amount of money involved is not suf- suf sufficient sufficient suf sufficient to by any means offset the lessened value of hides Thus the meat packer must consider the les- les lessened lessened les lessened value of hides and force the practically the full beef to carry is passed on to load when the meat the consumer The pressing pressins problem at this time making seems to be some means of leather more popular As longas long as hides are virtually a drug on the market the packer is up against a avery avery avery serious problem The hide very makes up about 6 per cent of or the total weight of a 1 steer so that it easily casily be realized that the cat cat- cattleman cattleman cat cattleman may is vitally interested in this problem The automobile industry once onci Ii a great user of leather is now using substitutes almost entirely Wide use or of tractors and trucks both on the farm and in the cit city has taken away another huge huSe outlet for leather for these mechanical horses do not use harnesses Just at present man many novelties are being being- made of leather in an effort to broaden the market Truck and traveling tr bag manufacturers arc are dev developing developing eloping a n greater market for leather novelty goods through the use of bright brig colors and they have also taken a lesson from front the automobile manufacturers in that the they v are pro pro- producing producing pro producing new styles and new designs each year so that the fastidious tra- tra traveler traveler tra traveler I veler must buy new luggage more often in order to be in style Per Per- Perhaps Perhaps Perhaps haps this program may aid in dev dev- developing developing developing eloping eloping- a greater reater outlet for leather Then too the draft horse associations are arc now putting putting- on a well directed campaign to again popularize the use of horses and mules on farms Pos Pos- Possibly Pos Pos- Possibly Possibly sibly the leather people may be able to regain part of the lost harness I goods market through aiding in such sucha a campaign Many Ian leaders in the trade reel feel that a higher tariff on foreign hides leather and substitutes w will ll help to solve the problem To this end the hide tan tan- tanners tanners tan tanners cattlemen's organizations ners and others are putting their case ase before Congress |