The Birmingham age-herald., 1908-04-07
DIAMOND PRICES
 TO BE MAINTAINED
LOCAL DEALERS ARE INFORMED THAT THERE WILL BE NO SPLIT AMONG BIG CONCERNS MARKET. ING DIAMONDS.

information has been received by local jewellers the- present prices on diamonds will be maintained. Among others, M Jaffe has received the following from the jewellers board Of trade of New York: To the Trade:
 The jewellers board of trade whose membership comprises nearly all the im- portant firms in the diamond business, jewelry and kindred trades throughout the country in view of the many recent statements appearing in the daily press concerning the future prices of diamonds, and in order to correct any misapprehen- sion on the part of the public and the trade because of newspaper reports, has made most careful investigation of this subject and desiring to put the situation briefly and fairly before the public sub mits the following statement
 The mining of diamonds for the con sumption of the entire world, or say about 97 per cent of |. the diamonds mined, is in the hands of only two cor porations. namely: The De Beers and The Premier Diamond Mining companies the directors of both of which are men of uncuestioned financial strength and keen ly alive to the industrial and financial situation, both here and abroad. Through a powerful ' -ldon syndicate tie product of these two companies is sold to the cut ters.
 It is to be remembered that the agree ment between The De Beers company and the London syndicate remains in full force and only the renewal of the agree Lent now existing between The Premier Diamond Mining company and the syn dicate is now being considered but whether the same is renewed or not the prices of diamonds will not in the least be affected benause the officers of both The De Beers and The Premier Dia- mond Mining companies, as well the London syndicate, have given us positive assurances that under all circumstances prices will be u>held. Assurances of this fact were cabled on March 19 all over the world direct from the mining companies' offices in London.
 On March 21 cable advices were re- ceived here from London stating that The De Beers and The Premier Mining companies had made a contract in which they agreed that there shall not be the slightest reduction from the present prices
  of Diamonds.
 These statements of all parties inter- ested in this important industry must undoubtedly evidence the fact that the same conservative policy that has al- ways prevailed in the past will be firmly maintained
 In support of these statements it might be mentioned that the agreement between the London syndicate and The Premier Mining company has only been in opera tion during the past five and one-half months and prior to that time the product of this company has always been sold direct to the cutters and no rupture has ever occurred between these two com panies (The De Beers and The Premier) during the many years that this way of marketing their product has been in vogue.
 It is unreasonable to assume that these relations which for so many years have existed should all at once be interrupted by the cutting of prices, particularly when it is a well known fact that the en- 1 tire industrial and commercial situation is improving Very truly yours THE JEWELLERS BOARD OF TRADE, i
 Leo Mormser, President D. LI Safford Secretary.