The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-04-19
Most of the Diamonds Sold In America
Pass Through the Hands of Picturesque
Curb Traders On Nassau ST., New York

street within an area across which
husky arm could hurl stone, mas
81 rung up a little community of men
III rough whose hands pass, sooner or
later. practically every diamond
whose appearance in ring, pin or law
alliere reflects American prosperity.
Here have gathered, from the four
corners of the world, men who know
diamonds and the diamond trade in all
OF it's qualifications. They are able to
glance at a stone and give the inquir-
er an estimate of it's worth; they are
able to pick out unnoted flaws; they
can tell by the size, shape. appear
ance and feel of diamond the part
or the world it came from. They are
truly diamond experts
The diamond district lies along Mas
sau street between Fulton street and
Maiden lane For years the neigh
borhood has been the downtown home
Of the jewelry and precious stone
trade. Here are located the whole
sale houses that supply a very large
percentage of the ornaments worn In
the United States. But it has taken
two conditions to make this little dis
tiict the diamond center of the United
States and one of the most important
diamond markets in the world
The first of these is the European
war, which has driven the dealers
from their customary establishments
49,, N, n. TIA 40 t.,n,, l,,.,,
prosperity of the United States. It
IL an axiom of the trade that dla-
monds and prosperity go hand in
hand.
Some of the rough stone trading is
done In the open air, on the curbs.
Some of it Is done in the club which
these exiles have formed for their own
benefit.
Sales from Hand to Hand.
Il can give you no idea of the value
o. the stones which change hands
Dolly down here because there Is no
barometer for the trade. Sales are
made from hand to hand, sometimes
sir gly and sometimes in collections or
dfSUTlfIpHlS. l. mere nave Dttii uuyS
Mhen the total has run into many
thousands of dollars, when there were
many orders to fill. On many other
days 1t has dwindled until a few
hundred dollars would cover the en-
tire transactions" So says one of
the men connected with the trade and
himself accounted one of the shrewd-
est and boldest operators
So the famous Hatton garden of
London, where daily groups of Bel
gians, Lithuanians and Russians gath
e. to trade in precious stones, has its
counterpart in downtown New York
an outdoor diamond market. 1t Is
one Of the changes occasioned by
sons why the value of precious stones
imported into the United States in the
year 1916 amounted to $5t, 590,0S0, as
compared with valuation of $26,521,-
339 placed by the same appraisers on
tho gems imported during the pre-
vious year.
They are mostly clannish, silent, ell
derby men, and but for the fact that
they cluster in little groups on the
sidewalk would never bt taken by the
casual passersby as dealers in precious
stones. Most of them are of foreign
appearance. Here and there a long
black silky beard characterizes the
Hebrew. A few of them yet wear the
al ha nm ~
garments of their Netherlands, Most
of them, though, are rapidly becoming
Americanized. legally and in maner,
speech and appearance.
1t Is daily battle of wits, down
there on Nassau street and while the
trades are carried on in a quiet, sing
song undertone the sparkling of eye,
the waving of arms in air, the pulling
Of boards give outward sign that each
dealer Is making a desperate effort to
get to the very last nickel his own
estimated value of his wares. They
start early and they stay until mid
afternoon or until the long shadows
cast through Nassau street make a
deceptive light.
How They Operate.
All of the dealers or brokers are
equipped with the little magnifying
glass familiar to the trade, which
when adjusted clings tenaciously to
the eye, leaving both hands free. A
large group of the traders together |
each wearing his bullying magnifying |
glass, gives one the odd sensation of |
watching a number of pop eyed bugs, |
as they slowly turn over and over |
some object of curiosity,
Most of their stocks in trade are cut |
stones. and these generally are carried |
in little leather packets resembling the |
cigar holders of Christmas vintage. |,
Some of the holders, when the dealer I
goes to the street, hold precious stones
valued at several thousands of dollars !,
A particular price is set by seller
on each stone, He knows its cost to
him at its point of European origin. i
He knows the charges which have ac-
crued since ii has been in his posses
sion. With that as basis the price
of the stone undergoes series of
small fluctuations. based of course on 1;
general market conditions and the de-