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PRECIOUS STONES
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95
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quantities
being found in Africa, then began to influence the market, and prices
again fell steadily until after the for-matiot>of the London
syndicate controlling the African market. This company has probably
engineered its enormous interests with a shrewdness and understanding
of the world's conditions seldom equalled. For several years it held
the market steady by a firm maintenance of the price of rough,
stiffening it gradually by a closer assortment. Then as the effect of
the enormous gold output of the world began to give impetus to trade,
it kept in touch with it by rapid advances of five and ten per cent,
until it became evident that the market would bear no more. In this way
without checking the sale of diamonds, the syndicate has in three
years advanced the price fully fifty per cent.
This
syndicate, which is intimately associated with the " De Beers
Consolidated Mines, Limited," takes the output of the diamond-mines for
periods, according to contract, at a stipulated price, and markets it.
The
variations of quality, color, and cut are so many, and the relative
value of the sizes changes so frequently to accord with the demands of
the market, that an exact table of prices is impossible. In a general
way the prices of cut goods in this market to-day may be stated roughly
as follows: Melees, from brown imperfect to very small white, range
from thirty to one hundred and twenty dollars per carat. Two-grainers,
from brown to Jagers, thirty-five to one hundred and thirty dollars per
carat. Three-grainers, brown to Jagers, fifty to one hundred and sixty
dollars per carat. Four-grainers, brown to Jagers, sixty to two hundred
dollars per carat. Five- to eight-grainers, unless specially fine, are
bringing little more than four-grainers at the present. Fine blue
Jagers and fancy colors are rapidly advancing.
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