The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1913-12-26
WANT P!Nk PEARLS.
Fashion Leaders Demand the
Expensive Rare Variety.
Custom House Figures for Recent
Months Show Increased Imports
of Rare Gems-Deaiers Dis
count the Duties.

New York.-The high cost of living
has not decreased the demand OF the
other precious stones. The imports
of gems to the United States II. the
fiscal year ending with June will
amount to more than S50,000000, ac-
cording to an estimate made by a
Maiden lane authority, who bases his
prediction on the total gem receipts
at the port OF New York In the first
eleven months.
The appraised value of the dia-
monds and other precious stones that
have already passed through the New
York custom house is $43.6S6,2S0,
record-breaking figures for a similar
period in any yeaN The figures for
this year are estimated at $50,000000.
Fear on the part OF the big New
York gem importers that they will
have to pay higher duty on gems
under the new tariff bill has caused
them to rush In large quantities OF
diamonds and other precious stones
since the provisions OF the bill be-
came known In May the receipts
totaled $4,606,323, record-breaking fig
ures for that month. In April $685.
6S1 worth of gems passed through the
appraisers stores. The figures for
March reached $4,34l,179. February
receipts totaled 81 299 ,4s5, and in Jan
uary s3,s99,e95 was the appraised
value OF the gems imported. Under
the present tariff schedule the cut
gems are dutiable at ten per cent,
and there is no duty on the rough
product. The Underwood bill pro
vides for duty of 20 per cent on
cut and 10 per cent on uncut gems.
The New York gem merchants, work
ing through their association, are
fighting for retention OF the present
schedule.
In the fiscal year which ended on
June 80. 1912. the importation OF gems
to New York amounted to $39,445, 2S5,
of which amount the cut precious
stones and pearls are reported by
Jewelry Examiner William B. Tread
well at s29.261,794. and the uncut
stones, principally diamonds. at s1O.-
1s3,491. In 1911 the total reached
S3S,374,s91 and In 1910 the highest
previous record was made. when the
receipts amounted TO s44,sS5,05 The
imports In 1907 were $41.112.371 and
in 1906 s40,2l7,542. which are the
only fiscal years which have reached
the s40,000,000 mark.
There has been a tendency on the
part OF the De Beers Consolidated
Mines TO increase the price OF dia-
monds during the year now ending.
and there is now present a large num-
Der OF New York dealers In the Euro
pean markets who report that they
have difficulty in getting gems suit
able for the American market.
There has been a marked increase
In the demand for colored stones. and
fine Ceylon sapphires OF 10 and ~
carats have been sold at from $500 to
$500 carat, which is an enormous
Increase In price since the beginning |
Of the year These gems are the most |
at present and II is pre-
iicted that FIRE sspphires will soon
rank next to emc-a'ds II they do not |
surpass them in price, One reason
'or this is that there are no fine sap.
Dhires coming to the market and only |
he reserve stock is being offered at |
high prices
The demand for fine pearls has
been unprecedented in the last year
md there are at presnt few desirable
gems of this kind offered to Amer
can dealers. The increase In the
,rice of these gems has been phenom-
email Ludwig Nissen, New York
gem dealer, on sailing recently for
europe, said fine large pearls from
I've to fifteen grains in weight have
Idvanced at least 25 per cent In the
asst fifteen years, and exceptionally
Inc pearls have shown a much great
IT Increase. He said that the reason
or the increase in value is that the
Inc gems have become very scarce.
lie said that in the last five years
here has not been an average yearly
production Of more than $4,000. 900
worth Of pearls from all the fisheries,
While much more than that amount
s paid by the wealthy for fine pearls
n New York each year.
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