Evening star. [volume] (Washington, D.C.) 1854-1972, 1889-08-16
DIAMONDS WILL GO UP.
A Syndicate Gobbles All the Big Mines
in Africa.
From the Philsdelphis Record.

1ou Tue fnuouelpnle NecOru
There has been rapid increase in the price
Of diamonds within the past few months, and
the cause Of the general rise is being discussed
with great interest by large importers. New
York and Philsdelphia dealers are now CON-
PEELED to pay from Is to 80 per cent more for
diamonds in the rough in European markets
than they did two months ago.
The American retailers and purchasers Of
these gems have not yes felt the weight of the
increased price. The rough diamonds pur-
chased in July win be placed on the market for
fall and holiday trade, and there will be some
fancy prices paid for pure gems. A consolida-
ton Of the diamond oducing companies il
the reason most generally gwen for the ad-
vance. A largely increased expense in the
mining Of rough stones was the chief cause
which has led to consolidation. Southern
Africa is the great diamond-producing center
Of the world.
It is said that the Rothschilds have entered
into the combination and have invested SIO.-
0O0, 900 in it. This makes them the largest
diamond mine owners in the world. Other
corporations have exerted their influence on
the diamond market and every mine of i'm
portance and reputation in South Africa is
operated by the syndicate. The last mine to
pass under the control Of syndicate power
was the Bulfontein, which is the richest in
the world. producing stones Of an exquisite
color and luster. With the Bulfontein CONSOLE
dation was joined the De Beers, Kimberly,
Central and Dutortspan companies, all under
one management, the two first being guarau-
teed AZ per cent per annum on their capital
stock to join the combination.
The diamoad supply is not becoming ex-
hausted. The difficulties of reaching the stones
are daily becoming more and more difficult
The operation of diamond mining Is, Of course,
peculiar. Beveled excavations are made from
the surface of the diamond field down to the
blush earth where the rough gems lie. In the
course Of time the steep banks, unable to sus-
Vain their own weight, cave in and bury the
fields under thousands Of tons of heavy earth.
Great expense is entailed in the removal OF
this debris The surface supply of diamonds is
nearly exhausted, and the digging in deep
mines is attended with great risk and cost
Even these operations are only practicable
when expensive underground methods are en-
ployed. The Bulfontein aud De Beers compa-
mics had reached the level Of their fields and
were compelled to suspend operations or adopt
the underground plan. The latter have already
sunk shafts and are operating in tunnels, leay-
ting pillars OF the blue ground to support the
"This advance was . natural consequence
Of the conditions Of the diamond trade" said
Jacob Miller, one of the leading authorities on
diamonds. II have just returned from the
European centers and the market was excited.
Nearly nity cutting establishments have closed
down in Amsterdam, and rough was 30 high
IN London that the cutters could not realize
from their goods what they cost. The
market will adjust itself in a couple Of
months, and the advanced prices will then
be assured. Inmy opinion the rise 10 solely
under the present dificulti.s experienced in
mining, that there could have been else than
IN advance. The Eusopean market Il feeling
the rise OF from 10 TO 80 per cent now. Ameri-