The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-14
GEM IMPORTS DROP
$15,OOO,OOOIN YEAR
Decrease Ascribed to over.
stocked Market and Bust.
ness Conditions.

While the Importation OF foodstufys No.
shown an increase the imports Of ,sr,.
to the United States for the e.ca, v."s
ending this month will show doc-aa..
Of over si5.o00.00o as compared ,,,,
last year. according to an estimate M
yesterday by Maiden lane au,ho.,,,'
who bases his prediction on the total ger,
receipts at the port or New York in ,ha
first eleven months.
The appraised value OF the diarrors.
and other precious stones that b,,.
already passed through the New yo,t
Custom House Is s3l347926. Jev.,,,
Examiner William u. Treedwell estimate,
that the total imports to the un,.d
states for the year will fall balo,,
$4,000, 900. An overstocking To avola
higher rates of duty under the new ,aris
Law. general business conditions and in.
creased smuggling are ascribed In Msidsn
lane as the reasons for the decrease in
che imports Of gems.
Fear that they would have TO nae
a higher duty caused the big New Yors
/ importers to rush In large quantities "A
gems ahead of the new tariff, which hA-
| came effective last O~tober. In July. 1914
the receipts were s5.670,7?7 and In Au.
gust s3,7S1,975 worth OF precious stons.
NEW 1OfN. IN september
figures reached se.522,207, which was N.
record breaking month. In October the
receipts dropped TO sl.2l3.e0s and in No
vember to ss32.593. December showed
n slight improvement with imports Of
sl.s77.902. and in January. 1914. the to.
tai was s1.77s.I37. Since that time the
receipts have not fallen below 81, 600 0oo
for any month. In February the total
was s2.355.t2s; in March. s2,9s5.sss: In
! April. s2.lss,3oS and In May s2,o2A155,
which are the average figures for these
months during normal years.
Under the provisions OF the present
tariff law the cut gems are dutiable at
20 per cent and the uncut stones are taxed
10 per cent. Miners and GLACIERS dla.
free OF duty. Under the old tariff the
duty on cut gems was 10 per cent and
uncut stones were given free entry.
In the fiscal year which ended on June
! 80, 1913. the importation or gems TO New
York amounted to s4s.7ss.9s7, OF which
amount the cut precious stones and pearls
were reported by Jewelry Examiner Will
ian b. Treadwell as $40. 762.02I and the
| uncut stones. principally diamonds. at
si2,026,s76. In the previous year the
| total was 39.445.2S5. OF which the cut
gems were valued at $29.261.7s4, and the
| uncut at s101s3.4s1. In 1911 the total
| reached 3s.374.s9l, and in 1910 the
highest previous record WAS maUe Wncn
the receipts amounted to SAL. ssj.O57 The
imports in 1907 were s4l.112,S7l. and In
1906, s40.217,542, which are the only other
fiscal years which have reached the
/ $40 1000, 900 mark.
There has been an increase in the De-
mand for bNe sapphres during the year
and fine specimens have brought as high
as $500 a karat Rubies have not been
, in good demand for several years past
but are Slowly returning TO favor.
The demand for fine pearls has been eN-
cellent during the past year and there
are at present few desirable gems offered
to American dealers. OF late the news
has been spread about that the price o.
pearls had suddenly fallen. Maiden Lane
dealers say that fine pearls are now worth
more than ever before. Ii Is explained thai
whereas the East Indian merchants used
to control the supply through syndicat,
now their holdings have been sold and
Paris dealers purchase direct from The
fishermen.
The total annual production OF all tht
, fisheries OF the world Is estimated q;
about $4,000. 900 h This quantity does
not suffice to supply the demand In New
York alone The output OF last year Is
! now depleted. despite present economic
conditions. II the fancy for fine pearls
continues. 1t is predicted they may attain
four times their present value. Just a;
present fine cream colored pearls are
most in demand.