The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1872-08-15
Mysterious Mine Of Wealth.

The New York Tribune states that the pub
lication of the dispatches from San Francisco
announcing the incorporation of the San Fran
cisco and New York Mining Company with q
capital of ten million dollars, to develop the
new diamond fields near the headquarters of
the Rio Colorado Chiquito, has attracted con-
siderable attention, especially as capitalists in
New York have faith in the new undertaking.
The controllers of the mine still refuse to give
anv details of its exact location or its produc-
tons, but affirm that it is the richest diamond
mind that has ever been discovered. Small
boxes full of gravel, which fairly glisten with
precious stones, have been brought to New
York for exhibition.
Upon inquiring at tho establishment Of
Messrs. Tiffany & Co., in reference to the gems
which have been cut in this city, a Tribune re-
porter was referred to the chief of the diamond
department, who answered all questions, except
such as, in his opinion, involved the secrets of
the company. A large number of diamonds
from the recently discovered fields-how many
received by Tiffany & Co., for the purpose OF
having their value tested A few of these had
been cut. No stone of a greater value than
four hundred dollars or five hundred dollars
had been cut by them, but some which would
be probably worth not less than five thousand
dollars each had been cut sufficiently to show
their quality. The diamonds were pronounced
by him fully equal to those from South Ameri-
can fields. No stones from Arizona have been
placed upon the market tho cutting having
been done solely with a view to estimate the
quality and value of the gems. The rubies ex-
amined by Mr. Cooke were not so good in quail
ity as Others in the market.
Even if diamonds prove to be as abundant in
the new fields as the reports indicate, the effect
upon the market value of the brilliant stone
will scarcely be apprcciable. Before passing
into the hands of the dealer, the diamond must
be cut, and the number of persons capable OF
performing this delicate operation is small. In
Amsterdam, where the business is more largely
carried on than in any other part OF the world,
the diamond-cutters have recently raised their
price, and entered into contract not to receive
apprentices or give instruction to others, not
even to their own sons. for three years. Dia-
mond-cutting is also done in London, and by
two houses in this country. Messrs. Tiffany q
Co., and Boston house employ about dozen
men in this work. The diamond-cuttcrs have
been overwhelmed with work for long time,
and the largest increase in the supply of the
rough stones will not cause, therefore, much
greater number of diamonds TO be thrown upon
the market.
The discovery of diamonds in North Ameri
ca, without regard to Indian traditions is by
no means unprecedented, and geologists have
been led by the formation of the soil to look
for precious stones in the region where they
have been discovered recently. Twenty years
ago diamond now worn by a prominent poll
tician was found in Virginia, and for a long
time its value was unknown, as there were no
diamond-cutters in America then, and few per-
sons were capable of determining the value of
the stone in its rough state. The stone would
be worth five thousand dollars if perfect, but is
said to have slight flaws Other valuable dia
monds have been found in Kentucky.