Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-09-18
TIE DIAMOND SUPPLY
DEALERS REPORT A SCARCITY
OF FINE STONES.
Some Of Them Believe That the Out
put of the De Beers Mines is
Diminishing.
From the New York Sun.

Diamond importers returning to New
York from the European market tell sto-
ries of increasing difficulties in getting
stones in the sizes and grades suitable for
the American market. Those who buy di-
rectly from the London syndicate which
controls the trade say that. notwithstand-
ing the development of new mines, the out
put of the crystals in quality up to the
standard gems is diminishing.
Importers who deal with the syndicate
say that they stand ready to take much
larger quantities of diamonds than they are
getting. The importers pay cash before
they get the stones and the syndicate fixes
its own prices. 1t is argued. therefore. that
the corporation would certainly release
more gems II 1t had them.
Not infreQuently an importer Is disap-
pointed by not receiving a consignment OF
gems when he expects them. The explana-
ton. coming from the other side, is that
the supplies at Cape Colony and Natal have
not been sufficiently large to make the reg
ular weekly shipments as formerly, so that
there have been arrivals Of diamonds only
every other week
At first glance this scarcity of fine dia-
monds seems inconsistent with the sta
tistics given out by the customs authorities
at New York. showing month after month,
Increases In the valuation of precious stones
and pearls imported to this city While the
tstics separate the diamonds from other
precious stones and from pearls yet It is
known that diamonds are the really large
item in the TOTAL
Increasing Imports.
For the fiscal year ended June 80 the ag-
gregate was upward Of $33,OO000O this be-
ing a gain of about $4,000 600 for the year.
Since then the July figures have been made
public showing continuation of the enor-
nous importation, breaking all previous
records
Show these figures to an importer for the
purpose of convincing him that people are
getting more diamonds than formerly and
he. will shake his head. He will tell you
that the valuation is higher. but not the
number Of carats.
Diamonds of the size and quality which
today bring 176 English shillings carat in
the rough sold seven years ago for 20 shil-
iings. In the last year the syndicate made
casion, besides adding to the cost by new
rules affecting the size and quality Of the
precious minerals.
1t may be supposed that the importers
look for relief to the new Premier mine
in the Transvaal. the only diamond mine
of any Importance that is not controlled
by the De Beers Consolidated Mines, Ltd
When the output Of this independent
jumped early last year above 10000 carats
month the attention of the world was
attracted.
The discovery OF the 3,082-carat Cullinan
diamond a few months ago added to the
interest. Promises OF lots OF diamonds
were made and are still being made, yet
the men In New York who import most
thus far the Premier has had no practi-
cal effect on the gem business in the
United States.
Product Of Premier Mine.
Reasons why the new Premier has not
as yet exerted the slightest influence in
staying the upward trend of prices were
given by Henry Fera. one OF the oldest OF
the New York importers He said:
1.-THE total output of the Premier mine Is
now 1900 to 1900 carats month"; The
average value OF all the diamonds imported
into New York is $37. so q carat. Not more
up to this average; while 50 per cent have
an average value Of $3.50 a carat and 60
per cent are of an average value Of $3.50
a carat.
the price Is fully as high as that of a syn
dictate gem, and naturally SO, as the new
mine pays 60 per cent of the value of the
stones to the government
1.-THE chief effect thus far Of the Premier
stones is in reducing the price OF bort.
which Is used for mechanical purposes.
These diamonds from the new mine are
particularly hard, quality which increases
polish them for gems. but enhances their
usefulness In engraving, glass cutting and
other pursuits. We now get for 81 carat
better bort than formerly commanded g.
The total exports OF diamonds from the
Cape of Good Hope at one time amounted
to nearly 100000 carats In year. The
last year that the total amounted 70 over
was 1893. BY 1908 the Cape exports had
declined to 2656587 carats
A year or 90 ago an estimate was made