APPENDIX. 
MARKET PRICES. 
Three distinct fields of inquiry feature prominently in a study of 
present price conditions affecting the hide and leather industry: 
First, the difference between the prices of raw and finished products; 
second, the difference of 4 to 10 cents a pound between the market 
prices for comparable classes and grades of country and packer hides 
and skins; and, third, the difference of 8 to 15 cents a pound between 
the prices received for these products by farmers and small butchers 
and those quoted for them on the market. 
The unusual price conditions affecting the raw and finished prod- 
ucts involve factors that are peculiar to periods of general economic 
disturbances and are not confined to the products of the hide and 
leather industries. 
In order to facilitate a study of the price conditions and relations 
involved in marketing domestic hides and skins, exhibits have been 
appended (pp. 55-62) which contain data, graphs, and other informa- 
tion bearing directly on this subject. 
Exhibit I shows the maximum prices and differentials that were 
established by the War Industries Board for domestic hides and 
skins during the three months ended January 31, 1919. Attention 
is called to the varying prices quoted for similarly described classes 
and grades of country hides and skins originating in different sec- 
tions of the country and to the contrast between these and packer 
hides and skins in this respect. It should be noticed also that the 
prices for the January take-off are less than those for hides and skins 
taken off during November and December, due in part to the longer 
hair and the correspondingly greater amount of adhering dirt. This 
emphasizes the influence of seasons of the year upon the quality and 
consequent value of these products. 
Exhibits II and III show the average market prices of packer and 
of country hides by grades for each month in 1918 and for each year 
from 1898 to 1918, inclusive. These exhibits are of special value in 
that they show the trend of market prices for each general -group of 
domestic hides, by grades, over a period of 20 years. 
Exhibit IV shows by graphs the spread and trend of market prices 
of comparable grades of packer and country hides from 1909 to 1918, 
based on the average prices for each year, except 1918. The prices 
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