FURS: End of the Boom

The U.S. fur industry last week shook like a badly frightened rabbit. There was much to be frightened about. Retail fur prices were being cut generally from 25 to 50%. An auction of 25,000 ranch-raised mink brought prices 30% below those of last December, and only 60% of the pelts were sold. Prices of fox, hardest hit of furs, dropped so much at auctions that fox farmers were holding their pelts off the market.

But what knocked the breath clean out of fur men last week was the news that Manhattan's Motty Eitingon Inc., the nation's largest single operator in furs,...

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