Rensselaer Semi-Weekly Republican, Volume 34, Number 78, Rensselaer, Jasper County, 30 May 1902 — EMERALDS ADVANCE IN VALUE. [ARTICLE]

EMERALDS ADVANCE IN VALUE.

Prices Go Up and Mining; the Stones Is Again Profitable. Colombia’s emerald mines, which have not been worked since the eighteenth century, are to be re-opened and operated by a company of American and British capitalists. The mines, In the Chivor district, are practically in the same condition as they were In 1792, when they were closed by order of the King of Spain, because their operation was no longer profitable, owing to the low price of emeralds. Colombia is a rich country and has many valuable deposits of gold, silver, and precious stones, but on account of the scarcity of labor the aborigines do most of the work In the mines, and they use only the rudest Implements of wood and stone. Tha great difficulty that confronts a prospector In Colombia Is the method of transportation. The country Is the most mountainous in the world, and the only means of sending freight to the coast is by pack mules and by boat on the great rivers, which is most difficult and expensive. “The diamond is no longer the most expensive gem,” said an old miner. “As regards monetary value, It Is far surpassed by the ruby and the emerald, and even the pearl Is rated higher. The emerald is at present the most fashionable stone, and brings good prices. An emerald of medium size and purity that may have cost about SSO a few years ago cannot be had to-day for less than $250. Recently an emerald of three carats was sold for $875. while one of six carats brought $4,000. A diamond of exactly the same size costs about SI,OOO. It must not be assumed, however, that diamonds are depreciating- In value. Other stones, and especially emeralds, simply have risen In price of late in a surprising manner.”

Young men think old men fools, and old men know young men to be so.— Metcalf. •