Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-10-07
L NJ ERALDS.
Hon. Charles Burdett Hart Describes
the Recent Cr4ze Prevalent in
BOoO.a.

Special to the Register.
WASHINGTON, D. c., October e.
Hon. Charles Burdette Hart, minister
to Columbia. sends to the State De-
partment, under date of July q, the
following account Of an emerald craze
which recently ragged at the Columbian
capital:
Until very recently, emeralds were
a drug in the market of Bogota One
who desired to buy them had only to
wait and have them brought to him.
The famous Muzo mine, which has pro-
duced emeralds of great value and in
large quantities, lies near Bogota, and
the people of this city have long been
familiar with its products. This mine
is operated by rench company which
insists that for the past year or SO it
has found almost no emeralds. How
ever, from this source or from others
crude emeralds have continued to come
into Bogota. OF the cut stones, set
and unset there has been an abundance
in the market. Hard times have COM
PEELED many persons to offer for sale
their highly priced heirlooms, and
these have been obtainable as a rule
at very low prices.
about ten days ago. an emerald
craze seized upon Bogota. The jewe.ry
stores and all other establishments
where emeralds are dealt in were be-
sieged by persons who wished to buy
and by others who wished to sell; and
for the same reason, men and women
crowded the streets, standing in the
roadway as well as on the sidewalk
some displaying their emeralds and 9TH
ers their money. A jewelry establish
ment located on the most prominent
corner in Bogota was compelled to ask
the police to drive the crowd away.
CAS- the news spread outside of Be-
gotta, emerald owners began to rush in.
This swelled the throng and sent the
fever UP several degrees. Sales were
made right and left, at prices hitherto
unheard Of in this market. Persons
who had not thought of selling, tempt
ed by the wild rush to buy, brought out
their emeralds and began trading. No
body could explain the real cause Of
the excitement, and many are now be-
ginning TO realize that it was without
real cause. About FIVE days ago, the
fever reached its height, and has since
been declining. While it lasted emer-
aids sold, on gold basis. at about
three times their value in this market
just before the excitement began. It
is estimated that up to this time. about
100000 pesos have changed hands as
the result OF the Juror
"The crowd has almost disappeared
from the streets. and many buyers who
went in on the food tide find them
selves with emeralds that will not
bring the price they paid for them.
Others, also inexperienced, have more
or less excellent limitations as souvenirs
OF this extraordinary movement It
does not appear that the expert dealers
have bought so extravagantly as the
general public. and yet it is believed
that some of these have far overreach-
ed themselves.
"The only approach 10 an explana-
ton for this craze is that a Bogota
dealer who went to Paris recently, on
his return to this city began to buy
emeralds at higher prices than had been
ruling in the market This seems 10
have started it. Some of the experts
say that this dealer drew out of the
market long before prices reached their
height. and that he did so because emer-
aids were selling in Bogota for more
than they would bring in Europe"