Rensselaer Semi-Weekly Republican, Volume 39, Number 81, Rensselaer, Jasper County, 14 June 1907 — A STUDY IN “SPARKS.” [ARTICLE]

A STUDY IN “SPARKS.”

When Is a Diamond Not to Be Classed as a Precious Stone! When is a diamond not a precious stone? asks the Boston Transcript. Thia question w r as involved in a recent hearing which occurred in the appraiser’s office at Boston. It involved the classification for duty of "an importation of diamonds intended for industrial purposes. These particular diamonds were to be used as bearings in electric motors. The diamonds were brownish in color and each had one surface cut and polished. Duty was assessed upon them at the rate of 10 per cent ad valorem, but the Importers claimed free ?ntry for them, contending that they were what Is kuQwn in trade as “bort,”that is, diamonds which are used exclusively for industrial purposes. The preponderance of the evidence showed that at the present tlqje the diamonds in the condition that they were imported would not be known as rose diamonds, and that they cannot be commercially cut and adapted to jewelry purposes in this country. The treasury department has decided In favor of the protestants, the officials here taking the ground that for tariff purposes the department is concerned only with the question as to how’ the diamonds in question would have been regarded at the time the tariff act of 1897 was passed. It is held that present conditions are not material to the case, and that therefore it Is not of importance whether or not, in view’ of the continuous advance in the price of all grades of diamonds during the last ten years, the better qualities of bort could be cut into the form of rose diamonds. It was held that this particular importation of diamonds at Boston was intended for industrial purposes and would have been known In 1897 as “bort” and that therefore they are so to- be regarded to-day. This entitles them to free entry and the 10 per cent duty exacted of the importers at Boston will be returned to them as a result of this decision.