Manufacturer of furs or leather goods 皮貨 (pihuo), especially "Fox and rat fur" in 1914 (細毛狐皮灰鼠Ximaohupihuishu). Note the change in the way of designating the company - from 號 (hao) in 1914 to 局 (ju) = department) in 1924, which suggests a process of specialization and professionalization.