The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1908-02-20
THE STRENGTH OF THE DIA-
MOND MARKET.

For more than 4 week past the con
dition in the diamond and jewclry
trade OF this country have been the
subject OF Misrepresentation by the
daily newspapers in many sections,
and particularly in New York, where
there seems 20 have been desire on
the part of reporters and editors TO
make sensational stories ont OF every
little happening in the trade Small
failures have been magniiied and
given prominence that was IN no way
deserved, while the story OF the lew
large concerns who put their assets
in the hands OF trustees has been used
as a peg on which to hang all sorts
Of weird stories as to the diamond
market being dead, about depre-
ciation in stocks and statements that
the prices OF gems were not, or would
not hold, up to the present market,
On behalf OF the jewelry trade, The
jewelers. Circular Weekly has writ
ten to every paper in which such
articles have appeared, calling atten-
ton to the untruthfulness OF the ae'
counts, the lack of basis for the con
clnsions drawn and the general air
OF misrepresentation that runs
through them all Al the same time
we called attention TO the fac, that at
this period OF the year. when mer'
ehandise in every line OF trade is be-
ing sacrificed for cash, diamonds are
the only commodity that are sold at
market price. and, In fact, have been
the only one to do this through the
past Is years, even through the panic
Of 1893.
In view OF the amount OF misin-
formation that is being spread about
the jewelry trade, and the effect that
il may have upon the public, il Is the
duty OF every jewler not only to un-
derstand himself. but to teach his
customers, his friends and even the
editors OF his local papers. II need be.
that the prices OF diamonds and gems.
which at present prevails, have no
prospect OF dropping, and that II any
change Is made in the future, Il will
be in an upward direction There is
nothing that has occurred in any part
OF the world which can give the
slightest cause for alarm as far as the
ability OF the diamond Syndicate and
the importers, cutters and retailers
Of these stones 10 hold the market
for gems on as firm a foundation as
il has ever been. As published in
another column, the Syndicate which
controls the entire output OF the De
Beers Consolidated Mines, Ltd, and
the Premier Diamond Mining Co.
(Which together produce over 90 per
cent. OF the gems OF the world), have
authorized the statement through
New York importer and cutter that
the Syndicate remains as firm as ever
in maintaining prices, and this state
ment is made not only with the con
sent OF the Syndicate but OF the two
great companies whose product Il
markets, That the importers and
cutters Of Europe and this country
to-day hold the situation in hand. as
we'll as ever before, everybody con
versant with the situation well knows,
and the man who is looking for dia-
mond stocks to be purchased under
the market price has as good chance
OF obtaining his desire as has the
ornothologist who is hunting for a
bird with three wings.
1t is the duty of the jcweler at all
times, and particularly at present, to
see that the situation is properly
understood by the public in his yicin-
ity, and he should not only seek to
counteract the effect OF articles mis-
representing the situation, but for his
own sake and that Of his trade at
large, emphasize on every occasion
the fact that his customers should
not postpone the purchase OF dia-
monds, for he will never pay lower
price than he will pay at the present
time. This applies to the dealer as
we'll as the customer, for il the last
IS years have taught him anything
about his trade, they have taught him
that present prices for diamonds are
always the lowest"
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