The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-11-05

Diamonds are going up. An advance Of
so per cent has already been decreed upon
| them by the great De Beers syndicate
Of Kimberley, and further advances IN
! price will be compelled by the war in
| South Africa. The value of Queen Vic
| torias Koh-iNoor will bound up from
sCOD, 900 to 81, 100000 This is the cold and
scientific estimate of jewelers., based up n
| size ard quality. Yet in the inconceivab!e
case that this historic gem were en- sale
| many a millionaire would give $1,000 600
to say: IT own the Kohl Moor"
Above fifty karats the value of dia-
| monds depends largely upon their his
torc Importance. Such stones as the
Shah" and the "Orloff'' ere of really
unlimited value Even by the cold rules
of the jewellers, Frances great diamond
the Regent" has jumped from S2,O)0,"CO
gain $,O0O,0O0 and the smart set of New
York, on the whole, will be more than
$25, 9O009G richer.
Ninety-five per cent Of the diamonds in
the market come from South Africa, nd
this supply is now closed. The min at
Jaagersfontein and Bloemfortein are in
the hands of the Boors, and Kimberley
is So war-worn that not single diamond
can be obtained from that vicinity
Unless these conditions are reversed
within a few weeks a diamond famine
must result. The diamond output of
South Africa is controlled by the de
Beers Mining companies, and every da-
mond is sold direct to the diamond syn
dictate in London. For some time the
crop of diamonds has been diminishing,
while the demand has been increasing
The consequence has been that the
syndicate has been doing business for
only two hours each day, and sometimes
before the expiration of that time they
have been forced to close and wit f r
more gems.
At present there are two cons 'gnments
of gems upon the ocean. They will lave
been resolved within two weeks. In
another week. unless the price is made
prohioitIve, they will all be sold.
Then there will be no more diamonds
until the British have driven the Beers
away from Kimberley. OF course there
| will be the product of other mines which
will dribble into Lopdor-S20 GOO wor h a
week. But that will not be drop Ia the
bucket. The syndicate has been haI ding
! $4,000, 900 worth of diamonds year, and
of those $40 Ooo, coo worth came from south
| Africa. Just how greatly the ic, OF
! diamonds will advance depends uDon tie
| power of the British to nqusr the
| Beers
They cannot possibly do this before the
| syndicates stock of gems IS exhausted,
but there is a supply of diamonds in the
hands of jobbers and importers gr & I
enough to last three months No M n
| can tell at what price these VIII be O a.
There will doubtless be diamond oury.
sure of Boer successes, who will hold
diamonds 81 high prices and damon
bears, confident of British victory. W O
will be ready to sell at q lower fsure.
| Every battle will affect the price of
gems, just as stocks are commonly az
fected. Even now there are two par ties
| In Maiden lane and Nassau street G
declaring that diamonds will not rise Il
| per cent, and others believing that the
price may be advanced 1CO per cent
The importing jewellers of New York
handle about Sl2,001.C00 worth of diamond
| yearly, most OF the gems RAISING through
about dozen firms, and within the ext
three months the jewelers. board is X =
| ly to see some lively trading.
| The two extremes of opinion are pre- b.
ably we'll represented by l ouis Kahn and
Leopold Stern, who are among the largest
| traders in America. Mr. Kahn thinks
that Is pc: cent Is the probable limit; Mr..
Stern sees at least 90 per cent, viii h
means an increase of 60 per cent on the
! original price. II a Is per cent advance
should occur now 1t would mean 81 per