The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-04-19


carried.
Cash Settlements.
Most of the trades are cash on the
spot, In some cases, though, the totals
are totted up at the end of the day
and the dealers messenger boy calls
for check AS 1t Is purely personal
business, there are all sorts of per-
sonal credit arrangements in effect.
Most of the smaller trades are for
cash or immediate check. In number
of instances the gems change hands
more than once during the day. One
large white diamond, beautiful gem
received several days ago from the
London market, is known to have
changed hands In the Nassau street
district four times in one afternoon
Each succeeding trade brought pro-
| fl. to it's owner
While large amount OF the 6ia-
mond business in this little district is
transacted on the open curb, a large
amount of 1t too Is transacted at the
United States diamond club of New
York. 1t is an organization OF dla-
lmond merchants for business and
social purposes and 1t numbers among
/ its members every prominent man in
the downtown diamond trade. Jacques
Goldstein. formerly diamond dealer
OF Antwerp, is the founder of the club
and with Norbert Salter and w. Naig-
Ter guides it's destinies.
The club membership numbers about
100 so per cent Of whom are foreign
ers, natives of dozen countries.
Many are Belgians, who are among the
shrewdest traders on the street. 1t
numbers among it's membership, too,
many diamond cutters and polishers
who have sought haven in America
since the outbreak of the war.
America Big Diamond Market.
I'VE are becoming Americans" said
Mr.. Goldstein bit proudly, as he
talked of the tremendous gains the
diamond trade has made in the United
States recently and of the men
through whose hands pass most of the
diamonds imported. Yes, sir, at our
last formal meeting every single man
of alien birth had taken out his first
papers. We realize that the United
States is the big diamond market. 1t
will be the big diamond market for
many years. Most of the people
abroad have no money to put into dia-
monds. Nor will they have for many
years after the war is over
One walks up little flight of stairs
from the tenth floor of 95 Nassau
street to reach the United States dia-
mond club of new York. 1t is a large
room with high ceiling. One gets
the impression that the diamond buyer
must have plenty of light He has it
here. The walls and ceiling are white,
and sunlight streams through the ~
large windows.
Little plain pine tables stretch the
length Of the room, much like over
grown school desks BY the side OF
each table is little bench. Each one
will hold half a dozen men. The COM
missary department occupies z. little
corner in the front of the building and
a waiter circulates up and down the
room, taking an occasional order for
and tea drinkers, are these gem deal
els, and given each man his little
packet of gems his magnifying glass,
q cup of coffee and cigarette or so
and they will form merry little party,
bargaining all afternoon.
A Clannish and Suspicious Bunch.
Here the gossip of the trade goes
back and forth, from mouth to mouth
and from table to table, Jewels en-
route from Europe are advertised by
word of mouth here; particularly
fine gem is the subject for an after
moons gossip, discussion and trade.
But they are clannish and suspicious
of strangers, and beautiful stones are
whisked hurriedly out of sight and the
talk quickly turns to other channels
when one not of the trade puts in an
appearance at the head of the club
room stairs. One of the significant
things about this room, known to but
few people and accessible to hut few
more, where thousands of dollars
worth of jewels are traded in each
day, Is the fact that above the coffees
and the strange teas and the gut
terals of foreign tongues floats large
American flag. The club follows
closely the lines of the diamond clubs
of foreign trade centers, particularly
the famous diamond club of Amster-
DAM
Jacques Goldstein said that dia-
monds have never been In greater de-
mand than at the present time and |
that most of the cut diamonds sold in
the trade here come from Holland, al |
though practically every mine in the |
world is represented by specimens.
Great Demand for Stones.
Small to medium sized diamonds, |
ones which are purchased over the re-
tail counters at from 500 to 5000, are
In the greatest demand" he explained,
and while we have calls for smaller
gems and very much larger ones they |
are rare. Yes, most of the trade Is
conferred in the more moderately r,ric-