Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1883-11-10
product Of The K;mh.r,r m,..... ..,..,-

product of the Kimberly mines, which
Occupy an area of one and a quarter
square miles, with those of other neigh.
oorlngg mines, and are worked by a
lumber OF companies with an srrre-
gate capital of 1872, 0OO, 600, is controlled
ny London, French and Dutch syndi-
cates' whose buyers are on the spot. and
whose WI prices at times greatly differ.
Inc aim of each is to consolidate. "a
lar as possible, mining interests in its
FAVOR, while they unite in action taken
70 q certain extent. They are always
ready to make advances when mines
are working at a loss, or to place
goods on the market which they have
not succeeded in buying up, secur-
ing themselves by a broad. margin ON
the sums advanced. The principal
market for rough diamonds in london.
These are mainly cut in Amsterdam and
antwerp. Ihe former city has six thou
sand cutters Of unsurpassed reputation.
Large s~team-tactories for cutting have
been established there, each containing
several hundred machines. The bust,
ness is ~singularly individualized, the
cutters separately, or in combination
with others of the craft, buying and sell
ing stones. As this country IS getting
to be an important diamond market.
there is no reason why New York should
not hereafter do most of its cutting.
Fine qualities of diamonds, those
which are not off-color and in other re-
spects all but perfect, are getting
scarcer, particularly blue-white. Prices
OF all grades have steadily advanced
since the curtailment of the South Afri-
can supply. Diamonds in the rough of
low grade that brought at the South At
rican mines inFebruary last thirty shil-
lings per carat now realize fifty-two
shillings sixpence. The stock held here
is larger than usual, advantage having
been taken by our importers of the low
prices then prevailing in the European
diamond marts in anticipation of a more
than ordinary active trade. In the last
two months the advance on rough
stones has been fully forty per cent,
and on cut stones, which are but half
the original bulk through the process of
cutting, twenty per cent. Prices are
still going up, there being no prospect
OF full operations being resumed at Kim
berly mines for a year or more. While
values are variable amongthe syndicates
at the Cape, they maintain a.certain uni
formity in the European centers of the
trade. The business of buyers is thus
mainly in suitable selections. Trans
fers are continually taking place between
these centers, nc customs duties inter-
fering: An intending buyer will often
have the very same parcel he has in
spected in Paris submitted to him in
London. A few months ago, trade be-
ing dull here and prices off, it might
have paid to %re-export diamonds to Paris
or London, but the narrow mar
gin of the profit, with duty paid, did not
justify the venture. The improving
scale of the American trade is in part
due to the circumstance that the wear of
diamonds by ladies is not confined in
the United States, as in Europe, to dress
occasions. The American trade limits
its purchases to well-cut stones, and re-
tail diamond dealers abroad and at home
agree that of all purchasers Americans
are most appreciative and critical.
A circumstance that facilitates assess-
ment of values in this line is that when
the eyes have become familiarized to a
fine diamond any inferior grade as to
form and brilliancy can at once be de-
tected. New York, as the great dia-
mond center of the country, necessarily
receives the great bulk of importations.
The import trade in diamonds has more
than trebled the past ten years, The
Treasury customs returns blend fancy
stones and diamonds under the head Of
precious stones. The latter do not
amount to tenth Of the aggregate value
stated. The aggregate value of ''pre-
cious stones" in the last three official
years was as follows: Year ended June
30, 1880, So, 1898, 48S; 1881, $1,000, All;
1882, SO, 444, 525. A moderate number
of rough stones are imported. as those
escape all duty, and the services of ex-
The former duty of fifteen per. cent on
loose stones, cut, was unchanged by the
amended tariff. The mounting of dia-
monds, bringing them within the classif-
cation of jewelry, entails a duty o twenty-
five per cent. and 20 prevents the importa-
ton Of jewelry in which diamonds are
set, except for patterns. The chief retail
trade is that OF New York, which is fol-
lowed, in the order named, by Boston,
Philadelphia, Chicago and St. Louis. A
leading demand in the West is for large,
fine diamonds.
The preference of the wealthy in Eu-
rope for precious fancy stones-su as
rubies, sapphires, emeralds, cats eyes
over diamonds, gives signs of being fol-
lowed here by persons of wealth, pur-
chases being, of course, confined to
veritable gems. A perfect, fine, pigeon
blood ruby is, indeed, more valuable
than a diamond of the same weight.
Star sapphires, distinctly fine, are ex-
tremely rare; SO also Egyptian tur-
quoise. Fancy stones generally, fine
and we'll proportioned, are by nc can
Observation-Disclosures.