The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1888-08-30
VALUE OF DIAMONDS.
How the Price of Pure Stones Is Main
tanned by q Monopoly.

How the Price of Pure Stones is Main-
tanned by q Monopoly.
"When was in London short time
ago." said Mr.. ID. De S. Mendes, the
diamond cutter, II was allowed as spe-
cial favor to see the great diamond that
was found last year in South Africa.
think they are going to call it the
Jubilee diamond, but | believe it is not
yet named. 1t is the whitest stone in
the world. and one of the largest, and
is owned by eight persons on shares,
the value being greater than any one
even of the enormously rich diamond
dealers could afford.
"When found it was of an irregular
shape, being somewhat like an egg with
the small end somewhat elongated.
The owners, in order to reduce it to a
regular shape, split off this end, and
after cutting the fragment found they
had forty-karat brilliant, which they
sold to the King of Portugal for t4O, 900.
The value of the remainder was not inn
paired by the subtraction of this trifie,
but rather enhanced, since the split was
successful, and the shape of the stone is
improved. It is valued by the owners
at FL, 500, 900, and any gentleman who
wishes to invest in a rather costly trifie
can not do better than examine it.
1.-The owners intend keeping it until
the Prince of Wales shall succeed to
the throne of England, and then trying
to sell it to him. Failing this sale, it
is hard to tell what they can do with
it,"
"Who are the owners now?" was
asked of Mr. Mendes.
Il do not think I'd better mention
names,n he replied, with the caution
which dealer in diamonds must needs
have. "There is considerable mystery
maintained about it, and it would not
perhaps be safe to tell all the facts,
even if | knew them, about when the
stone was found, who bought it and
what they paid. l know that there is
such stone, however, for have seen
it, and | know it is owned in eight
shares, for the gentleman who showed
IT TO me owns One-elpntn.
at is difficult for people outside the
business to realize the enormous wealth
of the diamond dealers in London" he
continued GAS an Indication, may
me one package of stones aggregating
5000 carats, which he valued at five
guineas carat. This was by no means
his stock in trade. 1t was one of a
number of packages"
'.He is one OF the shareholders in the
two great companies which practically
control the diamond market of the
world. They are the Central Diamond
Mining Company, and the Kimberley
Diamond Mining Company. Between
the two, they own or control
every important claim in the
world in which diamonds are
found These are in Africa, for,
as is well known, the supply from the
old mines has entirely ceased. The
two companies control hundreds OF
millions of capital, and were formed
by consolidation of all the small COM
, panies owning claims, for the purpose
of controlling the output, and SO keep
ing up the value of diamonds"
''Is the value then fuctuating?'
, at has fiuctuated considerably with
In a few years. The scare or furry
in the trade that was talked about
after the African mines were discov.
cred. and which was pooh-poohed by
, the bulls, was a very active reality
r and was very nearly approaching q
panic when the consolidation was eff
r fected. The large dealers saw plainly
that unless something was done tC
, limit the supply the market would be
broken, and they banded together an(
bought control of all the diamond
mines. Since that time no new dia
monds have been put on the market
] excepting those which they have al
! lowed, and the price, which had gone
, down, has been restored to about wha
it had been for many years"
! Then the price or value of dia
: monds no longer depends upon thei
r natural supply, but upon an artificial
1 restriction of it."
D Precisely So"
i 'And it is within the power of thes
two companies to break the marke
whenever they choose"
Undoubtedly. but they will neve
: do it, for they would be throwing ava.
n millions of pounds of their own proper
t ty.n-N Z. Cor. ST. Louis GLobe-DenaO
S crdt.
> Money NOT Criterion