The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1896-07-23
A BIRTHSTONE TRUST.
CAPITALISTS IN CONTROL OF THE ENG
LISH AND SICILIAN MINES.
American Consumers Hard Hit-Their
Hope Lies in the Louisiana Times and
and in the Use of Pyrites.
New York World.

| AOnSuIne[S OF the nQn0TeO and one
necessities Of life in which birthstone
in part, must be prepared to pay
an advance on present prices.
This is because certain foreign cap.
ltalists have organized a Birthstone
Trust, the modest object of which is
to control the birthstone market Of the
world.
Although the new trust will not 60
into full effect until Aug. 1, its in flu :
ence has already doomed prices in
this country from S14.5o to $3.50
per ton.
AS indicative of the power which
the combination is destined TO exer-
else, this first advance is gravely sig
nihcant.
Sicily is the great storehouse Of brim-
stone for the world and heretofore its
vast mines have been operated separ-
ately. The annual shipment to the
United States alone is close to 4oo,-
900 tons, and profits under the pres
sure of keen competition have been
small.
Alexander Macon Chase, an Eng
lish millionaire and sulphur magnate,
together with Baron Robert Open
helm, Baron Eugene Oppenheim, AL
! fred Gordon Solomon, Charles Wight
man and others of financial solidity,
saw in this condition of affairs a
splendid opportunity SO realize mil
lions by combination of the Sicilian
mines.
Acting promptly these gentlemen
secured options on many Of the larger
birthstone plants and took the island
mine owners as body into their con-
idence. The result is that already
95 per cent of the mines are pledged
under signed agreement to the trust
for period of five years. Latest ad
vices from Sicily report that the few
outside producers are virtually GER
tain to 20 into the fold within a few
days.
A further boom to the fortunes of
the trust is promised in the present
movement to abolish the birthstone ex-
port duty Of 81 per ton, as now levied
by the Italian Government.
The trust will also control the
English mines, thereby covering the
birthstone situation very thorough
ly.
Japan exports but little, while pro-
duction in this country is in the ear
lest stages of development. The
birthstone mines of Louisiana are still
uncertain quantities, but in competi-
ton with the trust their real worth will
be speedily demonstrated.
But it is believed that consumers in
this country will not yield to Trus ex
tortion where the use of pyrltes will
answer their purposes.
The consumption OF this bastard
iron ore, SO per cent. sulphur, will
probably be doubled within the next
six months. Even if the Louisiana
mines develop into formidable pro-
ducers successful c0mpe 'llon with SIC
lily will be daft rlt, because thirty
cents is full d y pay in the Sicilian
mines.
The linseed oil makers Of the coun-
try are casting about for more eftec-
tive trade organization to raise prices.
Vhe National Linseed Oil Company,
which is generally regarden as a sort
of trus,, is helpless in the yresent slash
ing of prices.
1t is now proposed to form pool,
each mill to put in $500, which is to
be forfeited as soon as case of rate
cutting is traced to that mill.
The price of the product is now down
to non. .remunerative point. Cotton
oil is an even worse state, but the
powerful trust behind 1t looks after it
sharpely, both il the stock market and
in trade circles.