The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1900-01-12
THE DEMAND
FOR DIAMONDS.

I'm our history we have never had
such a large diamond trade at this
time ofthe year rs we are now having,
says the manager of New lorll Jew
elry house. "It'is not only rchec.
tion of the general prosperity of the
country, but it all shows that there Is
no foundation in fact for all the stories
that have been circulated of the enor-
nous increase in the price of diamonds
on account of the war in South Africa
To-day, to illustrate to the average
reader by 4 diamond with which one is
familiar, the one-karat stone OF the con-
ventional engagement ring costs Sl35
where last Christmas it could be
bought for 1925. There is, in sum
and substance, the greatest increase in
the price Ct diamonds" The story is
the same in other shops. Everywhere
there are large sales of diamonds re-
ported-larger by from Is to so pei
cent. than at this time last year.
Speaking of the alleged influence ol
the war in the Transvaal on the dia
mond market, the Eceni"g Post reports
George F. King, expert in precious
stones: "As yet the war in the Trans
vaal has had no influence whatever on
the current prices of diamonds; before
the markets can feel the effects of the
war, it Will be all over. The rise is
due simply to the fact of universal
prosperity following years of apparent
depression. the De Beers mines and
the syndicate which buys and sells the
rough diamonds have, therefore, slight
ly advanced prices. As compared with
other precious and semi precious stones
steel, iron, and other commodities, the
increase in the price of diamonds is
trifing. The prices quoted just before
active hostilities began in South Africa
when the newspapers were full of state
ments to the effect that the rise was
due to the inevitable shutting dowl
of the diamond mines, were all fixed
six or more months before that time
and then only certain sizes Of diamonds
were affected. The supply for months
ahead is now in Europe.
"The De Beers agreed to mine GER
tain quantity and have their prices fix.
ed up to June 1900, until which time
there can be no advance on their part
To-day a better-cut stone of one karat
can be had at the price asked for that
weight in 1866 before the opening OF
the African mines. Now a larger stone
is required to get the finer modern cut
ting. 1t is possible that those people
who buy on credit, as is frequently
done by smaller dealers, pay more for
their diamonds, as they in turn pay
more for any money they want to use,
but ut no time more than the present
has cheap buying been 50 possible with
spot cash. A rumor spread to the eff
feet that diamonds have gone up paves
the way for asking higher prices with
out any justification to be found for it
in fact. AS matter of fact, there is
no commodity that has been more stable
WI uniform in price than the
diam nd since 1889, when the De
Beers syndicate, Of which Cecil Rhodes
is the life chairman, realized and insist
ed that uniform price should prevail
and that the syndicate should devote
itself to the mining of diamonds, and
not to. the raising and depression of the
company's shares for their own person
al benefit This course was not to be
deviated from until the natural increase
in the growth of the worlds prosperity
justified an advance"