Wool Still a Good Thing

The New York Wool Record gives the following review of the situation and prospects for wool:

Wool is still a good thing. It will have its fluctuations, like the weather and a woman's temper, but the average market price will be well maintained for some time to come. There will probably occur occasional shadings down and even a temporary decline may be recorded in certain grades, but wool will continue to be a good investment.

It is undoubtedly true that wool speculation has ceased for a time. The period of excitement is over. The movement of the market will be somewhat slower, but the tone will be no less firm. Few large sales have been reported the past week. The noteworthy feature was the purchase of nearly 2,000,000 pounds of Territories by Charles Fletcher of Providence.

The short supply of domestic wool may encourage the approach to the importing point. In fact, it seems that we have already reached that interesting stage, as there is some importing now in progress. A slight advance in market will increase importations.

The Australian clip is also short, and this may have a retarding effect. The offerings for the next London sales, opening Nov. 25, are said to afford little promise in the way of bulk or variety. The Liverpool sales, open Nov. 16, offered only about 31,000 bales.

From the conservative view-point there is no occasion for anxiety on the part of either sellers or buyers. It is safe to sell, and no purchaser would run any risk as the market now stands.