The New York herald., 1921-09-19
DIAMOND MARKET
SHOWING ACTIVITY
Increasing Demand Regarded
as an Indication of Return
ing Prosperity.
IDLE STOCKS NOW MOVING
Dealers Look for Good Business
With the Approach Of Christ
mas Buying Season.

An increasing demand Tor diamonds.
which nearly always is accepted as an
indication OF prosperity. has been
noticed during the last three weeks by
diamond importers. wholesalers and re-
taiiers. They attribute tho new demand
to the approaching Christmas season. to
the lowering of retail prices which have
prevailed for several years and to the
noticeable Improvement in general busi-
ness conditions.
Stocks Of diamonds which have been
tied up for many months In the hands of
dealers are now said to be moving, due
TO a considerably increased demand
from persons who actually buy and wear
diamonds. Moreover. jewellers say that
the more substantial people. in contrast
10 the diamond buyers of war times.
have resumed buying. A prominent i'm
porter with Offices In lower Broadway,
said:
People now realize-just as the
IIohenzollerns and many other wealthy
families of Europe realized, to their
great good fortune-that diamonds have
an intrinsic value which nothing can
take away from them"
The Beers Syndicate, which virtually
controls the diamond supply. closed
most OF the mines and shut or the sup-
ply at the beginning of the period OF
business depression in this country. 1t
was explained by importers. in order
that q surplus might be prevented and
the price kept uniform That is the
method chosen for the stabilization OF
the business.
Sees Business Improving.
Lee Reichman Of Reichman Bros, ITO
Broadway, said:
"The diamond business Is no worse
of than any other line. In fact, statis-
ties show that there have been fewer
financial disasters among diamond deal
crs than In any other line. J. think
business Is on tho increase because
Christmas is ahead OF us. but no busi-
ness can revive under the existing tax
conditions, which are 50 erroneous in
theory and SO complicated that 1t Is a
wonder any business can last.
Congress has got business by tho
throat and seems to delight in throt-
Ting 1t. IT is pathetic when one real
ICES that Congress fails so utterly to
see the needs of business. In spite of
Al the talk Of tax revision. Congress
simply has adopted the policy. ap-
parent.y. Of taking off little here ana
putting on little thcre-with the
theory back of it just as wrong as
ever"
It was revealed by diamond importers
that the chief source Of diamonds now
IS Amsterdam. One importer said that
10 his knowledge there were more than
n score of representatives OF American
firms who had gone to Holland within
the last month to procure diamonds.
These diamonds, 1t was explained. for
nlerly belonged to the German nobility
and to other wealthy Europeans who
their securities had lost their value.
Large buying Orders.
Charles r. Goldsmith. manufacturing
ieweller, of "a West Thirty-sixth street,
said that his buyers who had just re-
turned from Europe reported favorabiy
about the diamond market there.
"Fornearly two years. he said. "the
diamond market In this country has
been very dull. Now diamond dealers
are reporting large buying orders.
When the public buys diamonds you
may rest assured we are due for a
period OF prosperity, for people buy
them only when they have plenty of
money 10 spend"
Tho Jewelers. Circular In its latest Is
sue says
Figures compiled last week by the
Department Of Commerce OF the i'm
ports and exports during July show the
total value of the diamonds imported
during the month to be s2.35G.1t6, OF
which the value OF the cut stones IS
given as s2,27S,5o4 and that of the
rough or uncut stones. s77.e12.'