American citizen. [volume] (Canton, Miss.) 1864-1890, 1872-10-05

The diamond business is in a fair way
of development. The following letter
which appears in recent issue of the
London Times, would seem to indicate
that the whole thing is a fraud, and that
the diamonds which have been discovered
were planted by parties who expect to
ma Ike q handsome sum out of the plant:
% GRESHAM STREET,
LONDON, Aug. % 1872.
SIR: In your City Article of to-day,
commenting upon the reported discovery
of diamonds, rubies, and sapphires in the
Arizona district of North America, you
allude to circular of London diamond
merchants issued last week, discussing
the probable influence of the discovery
upon the diamond market That circular
emanated from Us, but there was a slight
error committed in styling US as diamond
merchants, as We act exclusively as brok-
ers, a speciality in our position in the dia-
mOnd trade to which we attach great I'M
portance. At the conclusion of your re-
marks you observe very judiciously that
all that is wanting seems to be some guar
rantee that the gems should be less fugi-
tive than the silver and gold of the Pyra-
mid mines. Now, without totally dis
crediting the existence of the finds of
some diamonds or precious stones in the
localities named, yet strong suspicion
has crossed our minds that real rough
diamonds, rubies and sapphires may be
produced as evidences of the new diamond
ferrous locality, and yet never have had
an existence there, but have come from
the Cape, Rio, Ceylon, or Birmah; and
our reasons for the impressions are based
upon the following circumstances Sever
al months ago one of our most important
constituents, diamond merchant, was
delayed keeping an appointment with us
for two or three hours, and on his
arrival at our office he excused HIM
self for the delay by laughingly
recOunting an occurrence which TO him
was exceedingly mysterious, and for the
reasons of which he could not form any
idea. He then told us that when on the
point of starting for our office he was in
terrupted by the arrival of person who
presented all the appearance of a hard
working digger, and who from his gem
eral rOughness and uncOuthness in no
wise prepOssessed our friend in his favor.
From his peculiar accent he evidently
hailed from America, which his subSe-
quent remarks and statements of his hay
ing had large railway contracts over there
fully confirmed. To our friends great
surprise the visitor asked to see rough
diamonds, and on being somewhat reluc-
family shown some, proceeded, to our
friends great astOnishment, to put aside
said he would take them. Now, as the
stranger evidently paid no attention
to the weight or quality, and as the lots
put aside reached an important amount,
the price asked never disputed, and he
evidently knew nothing about diamonds,
our friend had natural missivings as to
the discussion that would arise when tie
question of payment came to be alluded
to; but on this point there arose no diff
Guilty, for the stranger on hearing the
amount at once proceeded to pull out Il
large roll of bank notes and settle for them
Off-hand! That mysterious purchase has
never been cleared up to this day, but
now. we think, we have the clue to it.
We have ourselves often sold lots of rough
rubies and rough sapphires to parties who
seemed to have no definite object for them,
save Ito try experiments" but. As we
now perceive how such purchases may
find their way to other parts of the globe
and be produced there as evidence of local
existing riches and discoveries, we think it
our duty to write to you to put parties on
their guard before parting with their
money in investing in companies starting
with the moderate capital of Sl0,0O0,000
to commence with. We are, sir, yours
very obediently,
PITTAR, EENERSON Il Co.