The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-17
PLATINUM, 500 o.,
ALARMS JEWELLERS
Paralysis Of Finer Trade
Threatened When Demand
Is Ever Growing.
WAR HELD RESPONSIBLE

The ~ In Europe threatens 70 para
iyss the hne jewelry industry Of the
United States. The beiiigerent nations
are holding back all platinum under
their control. and certain countries. par
ticularly France. are reported TO have
agents trying to buy platinum herc.
The manufacturers Of nne jeweiry. q
great part Of which Is Of platinum, face
Q condition unprecedented In the trade
just whom . big demand II being made
for their products. Many may stop
manufacturing after January 1 and
throw many employees out Of work for
want Of raw material.
The precious metal which is far moro
costly than gold has been going up In
price since last September at q record
breaking rate and u to-day worth
more than twice wha. u was q few
weeks ago and more than four times
the price Of gold. Platinum could DO
bought in small quantities yesterday | n
the Maiden lane district for 500 an
ounoe three months ago.
The warning nations have placed .
rigid embargo OF the expectation OF
platinum II this has been the chief
factor In the phenomenal increase in the
price. Efforts by the trade ~orgnniza-
tions 70 have the embargo raised have
so far been without avail. 1t Is re-
ported that $500. 900 worth was recently
received from the French Government
consigned TO q large munition plant for
use In war materials. but 70 strict Ia the
embargo for commercial purposes that
not only the Jewelry trade but other
industries, including manufactures OF
electric. chemical. Photographic. dental
and surgical supplies. are feeling the
shortage TO a marked degree.
One manufacturer who could not OBJ
tain platinum In any other way pur.
chased a ton OF platinum coated paper
to get a comparatively small quantity
by recovering the metal used in making
the paper. II is understood that In
Germany manufacturers have already
substituted All alloy Of rhodium and pal.
ladium. two other r,ctals Of the platinum
family, for use where this combination
will answer. Thousands of old sets OF
false teeth have been broken up to Sc.
cure the platinum pegs used In theft
construction.
Many manufacturers In Maiden Ian,
remember when they bought thu
metal for IS to $40 an ounce
but that was just after the clvt
war. About twenty-five years ag,
Maiden lane had a big demand for watc,
chains made Of alternate links OF golc
and platinum. VI this fad died out an,
platinum MAS thereafter not used h,
jewellers until they found II better thar
gold In mounting diamonds.
In 1905 pure platinum was down :,
$3.50 ar ounce. Early in 1906 the con
sumption began TO increase and tn.
price advanced until IL was doubled II
December OF that year, and continued
until August. 1905. when the level o
1905 was again reached. In January
1909. the price had again advanced I,
&2t.26 an ounce and during the yea.
increased TO $3.50. During 1910 IN,
price advanced to S3S.75 an ounc,
and by December. 1911. the meta
was selling Mt SIS. The quotation
remained aUund that price unit
March of his year. when /
dropped to Sc. In August last platinum
was worth sal and during Sep,embe
jumped to ISL. October quotations ad
vanced TO $50 an ounce and to-day tn
man who gets II near 500 is getting
bargain.
Russian, French. Gennan and EnGlisl
syndicates have controlled the chic
source of supply OF platinum in the Ira
Mountains. A small quantity has bee
obtained in Colombia and the Cni;e'
States.