CORNER IN DIAMONDS.

Dunstan Times, Issue 3139, 16 October 1922, Page 8

CORNER IN DIAMONDS.

All over the world the best and largest diamonds are mysteriously vanishing. Hatton Garden diamond importers are scouring the Continent in the attempt to obtain stones to satisfy the demand which has suddenly sprung up for the finest stones, but in vain. On the Continent the ysimply cannot be purchased. "Somewhere a great corner is being made in diamonds," declared Mr A. Gershon, of the Hatton Garden firm. "Who it is we do not know, but it is certain that a mysterious shortage exists at a time of unprecedented demand for diamonds. Diamonds will soon become the currency of the world if money continues to depreciate at the rate of the past few months. R|chi Americans are buying all the stones they can secure. There is an unlimited demand for two-grainers up to sixgrainers from America, and Japan is largely buying. Fine small stones are also ver yscarce. "Consequently, the slum)) of a few months ago is giving place to a steady edmand for all qualities. The price of diamonds Jjas risen 10 to 15 per cent. during teh last four months, and it is likely further to rise in future," Mr Gershon declared. "We anticipate a boom trade by Cbrstmas. All the diamonds of the late Czar of Russia sold by the Bolshevists have now been cleared up. and the best quality diamonds are almost unprocurable. A member of our firm lias just returned from a six weeks' tour of the Contnent, in which ho was totally unable to secure damonds. "The Germans are hanging on to their diamonds like grim death. They wll not sell at any price, and regard their diamonds as the only real security left to them. The same spirit obtains in other eountres."