The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-31
PEARL DEALERS FEAR
NO DECIDED SLUMP
Persons Who Started Rumor
Hope for Big Bargains,
They Charge.
PRICES MAY RISE SOON
Paris, Not London, Is Now Cen.
trc Of Pearl Selling
Industry.
PRICES MAY RISE SOON

PARIS, May 22.--The report has sprea a
in Paris recently that pearls were soon
10 slump in price, rapidly losing their
value to a serious extent. II caused
more alarm among holders OF pearls than
among the big dealers, who minated
that those who spread the report had an
object in doing 20. hoping to pick up bar
gains by starting a panic.
In the last seven years Paris has sup
planted London as the headquarters OF
the pearl industry. A large number OF
workers live In the old quarter OF the
Marais and the rue de In Paix Is the
worlds great gem buying street Up til
1906 English merchants at Bombay ad-
vsnced money on pearls and hnl shed pay
ment only when they had sold them In
London.
During the American financial crisis of
1907 these merchants exacted such ad-
vanoes from the Hindu dealers that most
Of the latter were ruined. In that year
the pearls found in the Persian Gulf re-
manned unsold In the hands OF the Arabs
and country already poor. sufferel
severely In consequence.
Paris becomes Centre.
A Frenchmsu in that year visited the
Persian Gulf and bought pearls for cash.
Alt WAS NNAtBIltu ny NnN ubUeTS as n
savior. The wealthy Indian syndicate
which hitherto had bought almost the
whole output and regulated the market
by exporting pearls In proportion to the
European demand was supplanted by this
french buyer. lie saved the expenses o.
tho English mlddleman by buying dlrec,
from the fisher and Paris became the
head centre OF the trade. His task wa
all the easier. as he had TO deal only with
I'D tkat q, 90
Sach years product.
The total annual output of pearls may
be placed at something more than sl4.-
00O.0 to which the Persian Gulf fisher
les contribute from sl0.00O.000 to s12,-
900. 900. The fishers OF the Persian Gull
number 10000. The expense of the boat,
and expeditions and the profits OF inter.
nea'ori"s SGT aside. they have som'
80. goo 900 - divide each year. or abou
$40 30 a fanily. usually OF eight to ter
persons. The rice, coffee and sugar or
which they live has increased In pric,
IN late years there, as In all other coun
tries. Oysters become less abundant eaci
year and the weight OF the pearls fount
decreases as younger oysters are taken
Happily the steady increase in the pric,
of pearls Offsets these conditions
1t Is reckoned that $50. 100000 WORT
OF uncut diamonds II sold each year
Pearls do not reach so high n figure
France Is credited with taking 100000
England 100000. Germany sS,00o,oOO
Italy $4,000. 900, Russia sl.s0o,0 900. Aus
tro-Hungary $500. 900, Belgium anC
Holland $4,000. 900.
North America takes about $4,000. 900
as minimum. as single buyer hal
made two great clea RANGES OF big pearls
It cost of from 81 OoO. 900 to SO 400. 900
within the year. Argentina, which useC
20 buy about 100000 worth year
| has bought hardly anything for two years
| n other countries purchases are place.
| 1t $4,000. 900. the total annual outlay oi
| pearls may be estimated at s3o,0Qo,o0o
! pr more than twice the amount provide'
| by the fisheries.