Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1883-03-30
8lisftllamfous
The Trade IN Precious Stones.

49, - - - a. ~
In the year 1871 precious stones to the
value Of $2,346. 732 were imported into
the United States. of which s2.2S3 $50
were received in New York. In 1880 the
value of these imports was S6.69S. 4SS.
New York taking sc. 294.392. Last year
gems to the value of IS 332,51l passed
through the Custom House. 81, sS4. 137 be-
ing for the New York market.
: A member Of leading firm is OF the
opinion that the importation OF precious
stones will be steadily on the increase.
Even now he remarked, ''the New
York market is one of the greatest in the
world, and the very large increase in the
importation is due to this one fact. The
masses purchase all kinds Of precious
stones, and in no other country but America
do working people own such valuable
gems. The country was never in more
prosperous state than at present. One of
the proofs of this is the increased demand
tor valuable jewels. Diamonds. rubies,
cafs-eyes, sapphires, opals, onyxs. car
buncles and other valuable stones are now
being sold at the rate of six to one as
compared 10 the year 1871. In America
retail customer can purchase gems much
cheaper than in any European city. This
il due to compe itIon. the IN e, here
purchase Jewels, whereas abroad the trade
Is confined to the wealthy and arlstocraiic.
Our informant here produced diamond
known as the pearl Of India" and de-
scribes 1t as being pure white, double
cut brilliant, cushioned. shaped and valued
at CSC, 900. The weight of the stone is
ffty-fiye carats. This is said to be the
finest and most valuable diamond in
America. The stones having the greatest
demand after the diamonds are cat, eyes
these are worth from $50 to $500 carat.
The sapphire is in no longer such great
demand, but two years since a sufficient
number Of these stones could not be i'm
ported.
Mr.. Schultz, cape diamond merchant,
staying temporarily in New York, who
comes over twice o.. three times year,
says he considers America the leading
market of the world. 1T is true" he
said, THAT there is duty of ten per cent.
ON all cut precious stones, but diamonds
are now being largely imported in their
crude and natural state. Skilful work
men are employed here who can cut and
polish stones equal 10 the Amsterdam
masters - Other Jewels are dressed in
view IOTk III - iDDst skIliiul iHtuutIs
Retail purchasers Of all kinds Of precious
stones can buy cheaper in New York than
IN European cities, and merchants and
dealers make as great profits here as else
where. The large number of sales make
up the difference The precious stone
business is unlike any other. The public
taste for valuable gems is on the increase,
and the jewels purchased are retained and
seldom get back into the jewelers. tray.
Another prominent dealer thinks that
$4,000, 900 a year is invested in precious
stones. Many single large diamond finds
its way into Maiden Lane without any rec
ord at the Custom House. Large and
fancy stones are much sought after
manufacturing jeweler in Maiden Lane
asserts that European cut stones are not
to be compared in polish or brilllancy with
those cut on the market by American
workmen. The gems from abroad are
cut in a very careless manner, and most
of them on reaching here have to be recut
"In November last party came on here
from Boston," continued our Informant.
land started diamond cutting and polish
in this city. Their work is superior to
that Of either Dutch, Greek or English
men. Here the men work Systematically.
whereas abroad Il rough and quick style
prevails. A first class diamond cutter or
other lapidary can earn. provided he
works piece work. from $40 to S75 per
week; but it would he fair To average the
mems salary at SO per week. 4 first
class workman can cut AMI polish about
five diamond stones per week. Other
stones do not require the same skill or
time"
In answer to question why Americans
had not previously attempted this branch
of enterprise. our informant said: The
secret of diamond cutting for long
while belonged to the Dutch, who
kept inviolate. Ii was almost an
impossibility to learn the bust
ness from these people, and. rs the
stones are very valuable an ordinary jew
eler could not afford to practice on such
gems for experimental purposes. About
six years ago Dutch diamond cutter ar
rived at Boston, Mass. and hired himself
to work. and taught the business to some
young Bostonians, who in turn are teach
ing others. The great secret of this trade
lies in the knowledge of the grades. A
man could not be taught the diamond cut
ting trade in less than four years. 1t is
the easiest matter possible to ruin a stone,
A flaw or scratch across its surface de-
teriorates its value 100 per cent.
The principal OF one ot the largest man
ufacturing houses on Nassau street said
that owing to the superior cutting and
brilliancy of American workmanship Paris
and London merchants frequently send I'M
cut stones to New York 10 be polished
America" he added. Twill soon be rec
ognized as the diamond cutting centre of
the world. The Americans will not buy
diamond or an opal or sapphire unless
1t be very fiery. and no matter how small
a stone or how light its weight. unless it
sparkles and flashes like a sunbeam it has
no value in this market. The comparison
between European cut and polished gems
to those OF American dressed is as unlike
as fish eve 10 that of human being