Evening star., 1932-02-06
JEWELRY TRADE IS PROVING
AFTER 9 UNFAVORABLE YEARS
Outlook Frightened by Proposed Control
of Production and Sales of Essential
Materials-Prices Are Advanced.

ing pearls and beads, repairing fountain
pens and engraving that enabled many
a JeWeler to pay his rent and save him
from writing off loss at the end Of
| the year.
Manufacturers Output Low.
| The productive branch of the industry
made more favorable showing in 1881
than the distributive branch. THAI is,
| the decline from the 1880 level was less
marked. This was the result largely
of the drastic cut in production in 1885,
which brought the years output to
| nearly 25 per cent under the 1929 record.
AS the carry-over stocks at the end
of 1880 were exceedingly large manu-
facturers aligned their output in 1881
to actual orders.
AS a result. part-time schedules were
the rule throughout the entire year.
with overtime work entirely absent
necessary to go back 60 1921 to find a
year with an output as low as the $780,
488892 estimated for 1881.
! Most of the jewelrv in rhe United
States is manufactured in the Eastern
States, with New York as the center of
the manufacturing and importing
! trades. OF the annual imports, approx
mately $l9,000000 is represented by
precious metals, chiefly platinum. OF
the precious stones brought into the
country each year to the value of S75,-
| 000, 900 rough uncut diamonds account
| for $12,00000 unset diamonds s42,-
396, 900, and pearls S7,060000.
Numerous Price Readjustments.
Although less drastic than in many
| other industries, several important price
| changes were announced in the jeWelsy
| trade during the past year. Quotations
! on platinum were advanced about 10
| per cent a year ago, and have cou-
! tinued practically unchanged. Cut dia-
mondS now are cheaper, because of a
| 10 per cent reduction in the import
| duty. which became effective in 1890:
! uncut diamonds are duty free. Other
/ precious stones have been fairly firm in
| price, but synthetic gems have tended
| to depreSS quotations.
/ There have been no changes Of con-
sequence in gold prices but crude silver
is low. This has resulted in drop of
! nearly 80 per cent in articles manu-
factured of sterling silver, end 10 per
cent in silver-plated ware. In fact
current prices of sterling and plated
silver are so low that the public is
beginning to increase its purchases.
American silverware today compares
| favorably in design and workmanship
with any European product, and lends
itself to SO many uses that at present
prices even the modest home can step
| out Of the dining room and enjoy the
! benefit to be derived from additional
purchases. For silverWare always has
been priced possession, and he TACT
that it is so enduring makes it valued
as an heirloom. Pride of possession and
| lasting worth keep the demand for 1t
fairly constant.
Last October a company was organ
| lied in London to buy and resell vir-
tually all the new platinum production
originating in Russia, Canada, South
Africa and Colombia. This constitutes
| the major portion Of the world output
of this precious metal Since the for
nation of this company prices have
advances at the first signs of increased
demand
Diamond Prices Pegged.
| The feature of the diamond market
! today is the better tone evident not
only in the United States but through
out Europe. This is due largely to the
announcement in November of the rati-
fication of the agreement between the
| Union Government of South Africa and
the Diamond Corporation, Ltd. which
| provides for control of production and
sales until December l. 1884, thereby
maintaining a uniform price standard
No new sites are to be shown until
August 1882. and production in alluvial
fields in South Africa has been reduced
to about one-tenth of what it was a few
! years ago
| The fact that diamond shares have