Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-08-15
DIAMONDS.
The Great Excitement in California;
Rich Company Organized.

From the san Francisco Alta, August Il
We have a wonderful story TO tell. We
listened to it at first with incredulity
but after hearing all that our informant
had to say, we found that there were
reasons for believing. We have seen q
document written by Henry Janin, q
mining engineer of established reputa.
ton, who has visited the mines, exam
ined them professionally, and reported
~favorably on them. He has accepted
the position of Superintendent, and has
Expressed the opinion that with twenty
five men he can take out gems worth at
least one million dollars per month. In
the paper we saw be attached so much
importance to the discovery that he dis
cusses the question, whether the value
/ Of diamonds and rubies is likely to de-
preciate in consequence of increased
production; and his conclusion is in the
negative. We have thus commenced
with Nh. Janin because heis well known
here, and it is mainly upon his state
ment that confidence rests. His state
ments evidently command confidence,
for some ofthe leading capitalists of the
State have purchased stock.
The place of the new mines has not
been communicated to as by any of the
interested parties, but street-rumor says
it is New Mexico. About three years
ago an Indian near the diamond deDos-
lis gave several diamonds and rubies to.
"a white man, who brought them to
Messrs. Roberts q Harpending, In San
Francisco. These gentlemen satisfied
themselves of the value Of the gems,
and sent the men to find more. They
met the Indian, after a aong search; he
took them to the place and was subse-
quently drowned. We tell the story as
q was told us.
&Then Mr.. Janin went to the spot,
washed a ton and a half of gravel took
out q thousand diamonds, four pounds
of rubies, and a dozen sapDhires, and Sc
lected the best ground for mining, or
that supposed to be the best. Three
thousand acres We're claimed under the
mining law, passed at the last session,
which allows miners TO take up any
mineral deposit. Good water, grass,
and game are abundant, and water for
mining a be led without difficulty
over the diamOnd-bearing gravel bed.
The country, for a considerable distance
around, was examined, and no other
equally promising deposit was found.
Mos Of the one thousand diamonds
VRS4utu by MI. SAnl0 are small, weigh
ing about a carat. The largest Is eight
carats; Il obtained before Mr.. Janin
visited the place, weighed one hundred
carats, but Is black and of little value
relatively. There are q hundred car
ats i an averdup0is ounce, 80 that 4
diamond weighing carat IS a small af-
fair, but yet if clear and well-shaDed IL
may be worth from fifteen To fftv dol
lars. The value OF the larger gems is
greater relatively than thatof the small
er ones, going up to more than two
thousand dollars per carat in some cases.
some Of the sapphires are as large as
eggs.
The diamond mines are the property
Of the San FraBeisco and New York
Mining and Commercial Company,
has been Incorporated, and the
Trustees are N. IS. Latham, A. Gansl,
II. Babcock, Louis Sloss, William
NJ. Lent, e. ii. Selby, Maurice DOres
General George b Mcclellan, and Ssaa-
ueI /. NJ. Barstow, the last two Of New
York. This company Is Incorporated In
this city. II has one hundred thousand
shares Of stock, and we are assured that
Lney have been selling at forty
1ollars, making the present mar
ket value Of the whole property