of
through brokers. The Burma Ruby Mines Co. used to hold periodical
auctions of their stocks at Mogok. In the case of large stones, the
stones are kept in the owner's house, and on a customer examining them,
he makes an offer or asks the owner to keep them sealed till he makes a
decision. They are kept under seal until the first customer gives his
decision and if he does not buy them, other customers are allowed to
see them.
The
purchase of gem-stones is a tortuous business, in which a secret code
of fixing prices is employed. After examining the stone with the aid of
the broker and after due consultation, the hands of the parties pass
under their sleeves or under a towel or a cloth, and then two mute
faces look at each other. Not a word is spoken. The buyer holds a
particular finger in a particular part and according to the quality and
weight of the stone, the parties understand whether the amount is of 2,
3, 4 or 5 digits. The hands are then withdrawn and the offer is noted
in their books. It is known as the language of the fingers.
When
a deal is concluded, the stones are placed in a rag or envelope and
sealed by the buyer, and the stone is kept with the seller until the
amount is paid. Brokerage is paid by both the parties.
The
market for rubies and sapphires is worldwide. Representatives from
Europe and America were often found in Mogok, in addition to the Indian
merchants, who were permanently stationed there. Some of the Indian
merchants have also their representatives in Paris and New York. The
large stones find a quick sale, and are sent to Europe or America, and
the smaller stones are bought for the Indian market. With the Japanese
invasion of Burma, the area passed into Japanese hands which must have
caused considerable disturbance. But with the re-conquest of Burma and
resettlement, conditions may again be brought to normal soon. In the
pre-war days, Paris
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