While the offerings now show some 200,000 in excess of March, 1908, and also March, 1907, indications are that before the year 1909 ends there will be a shortage in the total rat catch for the year. Considerable anxiety is felt regarding skunk, as the number offered was 545,280 compared with 416,000 in March, 1908, which is nearly 130,000 more. This is hardly a fair test. The offerings at March Sales 1908 were light from the fact that skunk were not in demand at the beginning of the fall season of 1907, when a good per cent. of skunk are caught for the following March Sales. Go back another year, that is March, 1907, and see what the offerings of skunk were; you perhaps will be surprised to learn that it was 615,900 or 70,000 more than at this spring's sale. The offerings of beaver were larger than a year ago, but with these exceptions, there appears a decided falling off--note the quantity of fox, coon, marten, lynx--all much less. Furs are fashionable throughout the entire civilized world, and the catch seems inadequate on many articles. This is probably responsible for the high prices. At any rate, some articles have advanced beyond all previous high record. Prices for wolf, fox, lynx, wild cat and muskrat are very high, as well as many other American raw furs. Skunk reached a price that no one expected the past season. Since early in March or shortly after, too late to get goods into the London Sales, prices were lowered on skunk, opossum, raccoon and some grades of mink, especially Southern and Southwestern, but at the same time it should be taken into consideration that the quality is not so desirable as during the midwinter months. Many believe that by far the most of the furs come from the Far North. This is erroneous. It is true that the most valuable furs, such as silver, black and cross foxes, lynx and marten, come from that section. Some of the best otter, red fox and mink are also secured in the far northern country. Yet fully one-half of the value of the American catch of raw furs is comprised in the three following articles--skunk, mink and muskrat. In the Far North there will be foxes, otter, mink, and marten for some time to come. But what about that part of the country, say south of the Great Lakes, west of the Allegheny Mountains, north of the Tennessee and Arkansas Rivers and east of the Rocky Mountains?--a section which has been producing about half of the furs. This section is the great skunk producing one and as well as one of the best mink and muskrat sections. It also furnishes from the Southern States within the area outlined, great quantities of coon and opossum. When those interested in the fur business consider that half the value of the annual catch is skunk, mink, and muskrat and that the best producing section has hitherto been the section as outlined, one can easily see that the supply will not long be equal to the demand.