FDR PARMING 

 1954. 



The stability of the fur market, particularly for mink, is 

 dependent to a large degree on the activity of the stock market. 

 During 1954, the stock market reached some all time high trading 

 records which were reflected by the strong demand at high prices 

 for mink. Mink prices advanced 10^ to 25% by March and the aver- 

 age was substantially above the 1953 level. 



One of the main factors responsible for the increasing de- 

 mand for mink was the interest shown in the European countries. 

 Nearly all the restrictions on the importation of furs to Freince, 

 were removed. Italy is fast becoming an international fashion 

 centre and the demand for mink in that country, as well as Swit- 

 zerland and Germany, is increasing. 



The domestic and U* S. markets were stimulated by a reduc- 

 tion in taxes. The Canadian excise tax of 15?S at point of dressing, 

 was removed and in the United States, the 205S excise tax at retail 

 level, was reduced to 10%. Both these measures were effective dur- 

 ing the spring and while full benefit was not enjoyed during 1954, 

 a stimulating effect should be noticed in the coming yeax. 



On October 15th-16th of the year under review "Hurricane 

 Hazel" hit Southern Ontario a devastating blow. Floods resulted 

 in disastrous losses to four fur farmers located in the Counties of 

 York and Peel. 



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