New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-08-03
LOCAL MISCELLANY.
THE NEW GoLCoNDA

o., rur PRECIOUS STONES FOUND NEAR
THE RIO COLORADO CHIQuIiO M +.
soApc1TY OF SKILLED DIAMOND CUITEhS.
rrbo publication of the dispatches from San
Francisco announcing the incorporation OF the San
c,sco and New York Mining Company win capNai VI
s,o ooo 600 10 develop the new diamond heus near 'n
bodouarters of the Rio Colorado Cqto has atIrnetea
,drohe attention especially as capitalists in THIS
,, no ia faith In the new undertaking The controllers
ot the mine still refuse give any details OF us exact o
cation or its productions, but affirm that IL Is he richest
diamond mine that has ever been discovered. Small
boxea full OF gravel which fairly gistens with precious
stones have been brought to this CITY
ITnon ipouirtnR at the establishment Of Messrs Tiffany
CO. IN reference to the gems which have been cut in
this city, TRIBUNE reporter referred TO the cher
OF the diamond department who answered all questions
except such as his opinion, involved the secrets OF
the company large number of diamonds from the re-
Gently discovered eldshow many he declined 10 state
and few rubes had been received by Tiffany Co,
for the purpose OF having their value tested few OF
these had been cut No stone OF greater value than
$500 or $500 had been cut by them, but some
which would probably be worth not less than $1,000 each'
had been Icut sufficiently to show their quality The
diamonds were pronounced by him fully equal 10 those
from South America and far superior TO those from the
South African fields No stones from Arizona have been
placed upon the market the cutting having been done
solely with view to estimate the quality ana value
not SO good IN quality as others In the market
Even il diamonds prove 10 be as abundant III tno new
fields as the reports indicate, the effect upon 'he he
value of the brilliant stone will scarcely be appreoape.
Before passing into hands Of the dealer the diamond
must be cut and the number of persons capable OF per
forming tins delicate operation is small lnAmsterdam
where the business IS largely carried on than IN
any other part Of the world the diamond
cutters have recently raised their price, ana
entered into compact not TO receive ap-
prentces or give instruction to Others not even to their
/ own sons for three years Diamond cutting is also
| done in London and by two houses in this county
Messrs Tiffany Co. and Boston house. employ about
| n dozen men in this work. The diamond cutters nave
been overwhelmed with work for long time, and the
largest increase the supply Of the rough stones VIII
not cause therefore, much greater number OF Qua
| monds TO be thrown upon the market.
The discovery of diamonds in North America, without
regard TO Indian traditions is by means unpreceden-
ed biologists have been led by the formation OF The
soil to look precious stones in the region where they
have been discovered recently Twenty years ago da-
mond by prominent politician was found in
Virginia and long time its value unknown as
there were no damondcuters in America then, and few
persons were capable of determining the value Of the
stone in Its rough state This stone would be worth
5000 perfect but is SAID TO have slight flaws. Other
valuable diamonds have been found in Kentucky