The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-11-20

rssees IN tne Unatsd ssstes whcre n Gems
Are snppssed TO Exist.

From ths JsreLsrs' CircsIay-Wsskiv.
Reports OF diamond discoveries and the
formation OF companies 70 exploit various
fields where these gems are supposed 70 eSlst
continue 30 appear with usual regularity. ana
they now seem TO increase in direct ratio 10
the strength OF the diamond market as the
price OF diamonds continues It's upward
climb. or the supposed diamond fields. the
two which have been receiving the greatest
Attention &C the present time are those To-
Gated In Kentucky, which were mentioned
some time ago. and q new field In the vicinity
OF Plum City. Wis. In neither have DIAMONDS
Of any size whatsoever been discovered oy
the men backing the projects. though II Is
true that some diamonds. supposed TO DE OF
glacial origin, were found In Wisconsin before
any thought OF developing the fields was
entertained. In both instances the hope
held out to che e~xpecLant buyer OF stock lies
not in whaL has been found. but what may %
found by reason OF the fact that true blue
clay. or kimberlits. exists throughput the
area being worked. and experts seem 70
absolutely base their hope on the general
proposition that where there Is kimberhte
thero will probably be diamonds.
IL u possible that these experts may not AXE
into consideration the fact that. even though
diamonds may exist In the general vicinity
Of their fields. IL might take a decade or even
Q century Of painstaking search before the
actual mines are located. David Draper.
the South African geologist, who discovered
the new Premier mines In the Transvaal. and
who 10 said to have pronounced both the blue
clay OF Kentucky and Wisconsin fields to be
true kimbsrlite. said on his visit to this coun-
try Q year ago that the chances Of discover
ing diamonds. even when they are known to
exist within Q territory. 10 always remote,
and called attention to the fact that though
diamonds were found In the Transvaal almost
simultaneously with the discovery OF the
gems in Cape Colony. II was not until twenty
nine years lster-in isse-that the fret dia-
mond mine was discovered In the former
country. and this despite thu fact that thou
sands Of men familiar with the conditions
surrounding diamond mines were exploring
the country az all times. In fact. Mr.. Draper
said that although the same rock had come
In the way of many geologists and dismond
experts IL was not until after he had Identified
the specimen submitted 20 him from the
SCHUYLER farm that the first diamond mine
Of the Transvaal was located. Then, within
q year, four other mines we're found in the
same district. IL is when we consider how
few experts We have in this country capa BILE
Of locating a diamond mine that we realize
how remote is the possibility Of the discovery
Of q gem field here.
There is another factor in the question OF
the discovery Of diamond mines that does
not seem to have occurred to many writer's
who are exploiting the supposed diamond
fields. viz, that even though q diamond mine
may be discovered there is always a posi-
bility that it will not pay to work it. The
truth Of this lie attested by the fact that though
there are a thou and or more diamond mines
in South Africa at the present day. those
which are more than paying expenses num-
Der but q ha ndful. There is good reason 10
fear, therefore. that the customer or dealer
who counts on any decrease in the price OF
diamonds In the future as resulting from the
discovery of new diamond mines is doomed
to lasting disappointment. While such a
discovery Is within the lines OF possibility.
it is hardly in the realm Of probability. and
even il made would sta nd little chance OF
ha wing any particular effect upon the market
price Of the queen OF gems.