The daily star-mirror. (Moscow, Idaho) 1911-1939, 1919-10-04
DIAMONDS co UP
ON EUROPE MART
Antwerp Clubs Reveal Efforts Of
Germans to Control
Gem Trade.
MONEY DEPRECIATION HELPS
Men Of Wealth, Nervous as to Finan-
caI Outlook, Buy Diamonds In
stead Of Securities Because
the Safest Investment.

Antwerp.-Antwerp is in the throes
of a diamond fever" such as has
never been known anywhere before
Not less than six diamond clubs
have been opened in the last three
months.
These are "clubs" only In name, for
they have nothing Of the usual COM
Portable accommodation generally as
ISOLATED In our minds with such in
situations. Their main feature is a
large room filled with rows Of small
card tables. The room looks for all
the world like card playing estab-
lisAment
1t is the guests, however, who pre-
sent the strangest appearance. There
are smart young men dressed in the
latest styles, and important looking
men bearing the unmistakable mark
Of the stock exchange habitue and Pc
culIar old men with long boards and
soiled linen and ancient Prince Albert
suits all mingled together and driving
bargains among themselves at figures
that would rejoice any banker even In
America.
Handling Diamonds.
Two by two they sit, opposite each
other at the little green tables, care
lessly lingering handfuls of uncut dia-
monds as if they were common poker
chips.
The conversations are pretty much
fI,o e,op,o oil oxyo,. fl,> voop,.
How much did you pay for this
lot?"
1.-TWO hundred thousand crowns"
"All right; I'll buy 1t with per
cent profit for you"
"Done."
And the money Is handed over at
once in cash. Then the seller looks
around and having nothing better to
do, leans over the shoulder of an ac-
quaintance at another table, driving
another bargain. And the gambler
fever gets him again and he feels
sorry he has sold SO he buys an
other lot and sometimes he buys back
the very one he has sold.
Thus the prices are pushed up in
this extraordinary diamond ex-
change" of the world.
One of the oldest firms has given
the following figures concerning dia-
mond prices:
Before the war the uncut stone cost
S23 karat and S32 after cutting.
after the declaration of
war the price slumped to S23 and re-
NAMED that low as long as 1915, when |
the Germans, beginning to get nerv-
Gus about the value of paper money, |
started buying all The diamonds they |
could find on the market.
France, Switzerland Italy and Eng
and followed suit, and the price went
up by leaps and bounds. On the eve
If the armistice the karat was worth
go and fell again to $34 within a
'ew weeks of the cessation Of hoStil-
ties.
Since the beginning of the year the
liamond market has doomed, owing
o the general depreciation of Euro
,ean money, the difficulty of exchange
Ind the embargo on export Of curren-
les from one to another European
ountry.
Demand Is Heavy. 4
Today karat of uncut stone finls
n easy market at $3.50. Merchants
iced no longer seek customers. Cred
{ is no longer given. AS soon as
ew consignment arrives from LON
on the diamond clubs are filled to
verfowing and tie bidding starts
nth unheard of zest. Many accounts
re settled in America, and even
here merchants prefer to be paid in
ind rather than In money.
1t seems certain that the price OF
iamonds will continue to rise until
J. better balanced than at present.
q every country there is an aston
hing number of rich men who are
ill very nervous as to the financial
utlook, especially in relation to pos
BILE. labor troubles. These men do
OF buy securities and do not keep
rye bank balances. They buy dia-
onds because they know they are
re safest investment and the easiest
} transport.
The fact that Germans have been
lie heaviest purchasers of cut and
1cut stones since 1915 is beginning
worry the allies who find In 1t the
1planation of the apparent optimism
Town In Germany as to the economic
ture Of the country. 1t is said that
e greatest supply of diamonds in
e world is now safely stored by Ger
ans who, when they choose, are in
,sition to command the market.