Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1885-01-23

I'LL VA
precious stones and expensive jewelry!
are held in the safe vaults of this city
to-day which must be parted with by'
the owners at a great sacrifice, as
many of the owners are among our old
and most respected citizens. In flush
times they accumulated the p~ropertyin
the way of presents from their frienda
or individual purchases, and now when
hard times have come upon them the
treasure relics of bygone prosperity
must 60 to pay for the necessities
of life, and to secure money with
which to tide over temporary penury.
1t would surprise any one to hear the
names of our local men who have been
reduced to this method OF raising
funds, and the array of gems brought
together would be a further revelation.
1.-The men in question shrink from
going to a pawnbroker. They seek out
a friend and ask him to lend some
money on the goods. The friend
knows that the man is not telling q
falsehood, and, after viewing the orig
inal invoice for the jewels. he advances
with a good will two thousand dollars
on a three thousand dollar set of
diamonds at a fair rate of interest.
Finally the man to whom the money
has been loaned goes to his friend in
perfectly good faith and says that times
are not much better. that even the in
terest is burdensome-and the jeweiry
must be sold. Then the mistake of the
whole transaction is brought to light.
The price obtainable for the Jewels is
much smaller than the money loaned.
A few examples of these cases are.
One lot of silyerware, consisting OF
wedding presents and various pur-
chases, costing in all more than two
thousand dollars, was sold for five
hundred dollars. Come in here and
look at these sets and see what you
think of them, Here is a pair of dia-
mond earrings and a brooch that cost
two thousand dollars. / can not sell
them for four hundred dollars. Here
is a seven hundred dollar set of
silver ware that can 90 for one
hundred and fifty dollars to any
purchaser. That diamond locket
was bought for eleven hundred
dollars, and it goes a begging when
offered at four hundred dollars.
And, as you see, not any of them show
wear in the slightest degree. Undoubt-
eddy in some cases the owners of these
jewels paid exorbitant prices in the be-
ginning, for there are INSCRIPTIONS
dealers who are apparently trustworthy,
but as a rule the gems are of the finest
quality. and the men who handle that
class of goods are not usually objects
of suspicion. However, you will no.
tice a strange thing when you go to a
jeweler to have an expert placed value
on a set Of diamonds upon which you
wish to make a loan. He will tell you
that he would not sell the set for q GER
tain amount he names; but upon the in.
stances above enumerated it is evident
that he would not give you half as
much if you were to offer the set to
him.
''This expert valuation is an inscruta-
BILE system. Isupposc there have been
several instances where the amount OF
money loaned on a set of diamonds
was based upon an experts valuation,
which, as l have said, proved to be a
considerably larger sum than could be
realized at a forced sale. A lady in
New York is the posscssor of jewels
bought at Tit1any's for e%ighty-fou1
thousand dollars, and she concluded to
sell them, because they We're so much
trouble to her. Tiffany would not
take them back and pay moro than
thirty thousand dollars. l carry a
good watch, and have for a long time
been living in the happy, belief that by
means of it | could get home at any
time happened to be caught out OF
town, but | am every dav growing TIC
consider my heretofore .appy belief a
deluSion and a snare. l don't know
but that | would be obliged to walk
home if the car fare was too big,
vene if the place where l was
literally swarmcd with nawn-shops.
People for the last two years have
been melting up their old silver
to get the bullion. At one time
II concern alone melted up an aver
age OF six sets per week. q F.. at the
present time sets are COZ. nually sent
through the banks from private homes
in this city and from all parts of the
coast to the mint to be melted up. AT
a recent date a wagon-load of silver
coming from Mexico, and comprising
every article of household furniture,
even to wash-bowls, was taken to the
mint, Some people do this because
plated ware needs watchfui care, and
others do it because they are compelled
to.'-San Francisco cal.