The Dawson news. (Dawson, Ga.) 1889-current, 1908-02-19
DIAMONDS AND HARD TIMES
WEALTHY PEOPLE DISPOSE OF
JEWELS FOR READY CASH.
One of the Results OF the Prevailing
Financial Squeeze Is Much jew
eIry On the Market.

FnanCldI squeeze Is MUCH OcN-
eIry On the Market.
From the New York Press.
One result of the financial squeeze
OF the last few weeks has been the
throwing Of hundreds of thousands
of dollars worth of diamonds and
other precious stones on the market.
One Maiden Lane authority esti-
mates the amount of diamonds that
have been sold to dealers in that
winding thoroughfare alone at ST.
coo, 900.
AS a rule the diamonds that have
found their way back to the dealers
have been small stones of indiffer-
ent shape and color. But there also
have been some rare diamonds of
splendid quality and desirable color.
These were largely bought of the
dealers, who, in the past, have not
had enough jewels of this character
to meet the demand.
Undoubtedly a great many pieces
of jewelry have come upon the mar
ket that would not have been dis
posed of if it had not been for the
acute financial situation. One after
noon last week an elderly man
walked into the shop of a Maiden
Lane importer and drew out leather
case.
Il want you to look these over,
Mr.. Blank" he said to the importer,
who evidently knew him. They are
for sale. They belonged to my wife. :"
''Ah," said the importer. Il was
not aware of your bereavement.
ooh, she died twelve years ago"
said the elderly man. 81 have had
! these in the safety deposit box all
should go to the children, but
can't raise money from any other
source, and much as | hate to do it
| shall have to let them 60
There were several handsome
rings, a necklace, several bracelets
and a magnificent diamond sunburst.
The dealer appraised them at &c.
! 500, and in ten minutes the man who
had brought the jewels left with a
check for that amount.
TOO bad" said the importer 81
know how he felt about it. But he
made a good bargain from a finan-
cial standpoint. He got at least ST.
500 more than he paid for them
twelve or fifteen years ago, and he
bought them at retail prices and sold
them at dealers prices. So diamonds
have not been such a bad investment
after all. / wonder how many stocks
would be sold for more than was paid
for them at that time. We have had
a good many former customers com
ing to us to sell their diamonds. II
has been the best method of making
quick raise. We have not loaned
on them. We have bought them out.
right.
There is no danger of a glut in
the diamond market unless the de-
preston continues for a long time
Diamonds have risen from 80 to SO
per cent in value in the last ten
years. Good stones are still scarce
and we have welcomed the opportu-
nifty to replenish our stock from the
| jewel boxes of the embarrassed rich
| "A ulduOuU OI even carat, pGIl6Ct
in shape, of good color, well cut,
and without flaws is not easy to OBJ
tain. One or two carats or more,
possessing the same qualifications, is
still more rare. A perfect carat stone
is worth $175 to $3.50. Ten years
ago one might have bought such a
stone for $140 to $3.50.
while we are willing to buy all
that come upon the market, we must
admit that we are not selling many
diamonds just now, and for the first
time in good many years we find
the supply equal to the demand. In
year or so, however, we expect to
see the same persons that have been
down here selling us their jewels pay
us another visit to get them back at
retail prices. If they don't come
some one else will. The dealer in
diamonds has to be an optimist and
bull on the future of the coun-
try. People don buy diamonds I'M
| less they have surplus cash"
|