The Snippet - Past News of the Silver Trade

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DIAMOND PRICES STRONG

London


“The diamond market continues very strong, with all classes of goods in demand. Business is particularly brisk in small and common goods, and the Syndicate found keen purchasers for their Bultfontein shipment which they marketed this week, despite a further rise in price of 5 per cent. on all goods from half a carat up. As a matter of fact, our Amsterdam correspondent informs us that the small goods which predominate largely in Bultfontein changed hands in Amsterdam at a profit of from 4 per cent. to 5 per cent., while certain classes of common qualities found buyers second hand at prices showing profits ranging up to 10 per cent. to 12 per cent. above Syndicate prices.

“This again proves the accuracy of the contention that small sizes and common goods are much undervalued in comparison with the rates for the bigger goods, and they could stand a big enhancement in price. Shareholders in the producing concerns should take this matter up with their directors, as the benefit they would obtain if their small sizes and common goods were sold at the right prices would be very great, and would probably lead to an early resumption of dividend payments.

“The Syndicate are again showing Bultfontein on the 26th instant, and there will no doubt be the same keenness to buy this shipment. Large
quantities of brilliants have again been sent to India and the Far East during the week.”


Source: Financial News - 14th July 1916

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CHARLES MESTORINO

Devils' Island, French Guiana


Rumors of every description are being circulated in connection with the reported death of Charles Mestorino, the Paris jeweler sentenced to life
term in the convict camp of Guiana for committing murder. Nevertheless, the ministry of colonies has not yet received word of any sort confirming the report and pending such verification all rumors are considered doubtful.

Stories of his death from sharks, from parrot disease and from tuberculosis all have their partisans. Mme. Mestorino is said to have received a
letter from her husband, dated March 3, when he was in hospital.

The ministry of colonies also is becoming exercised over persistent reports that of 673 convicts taken to Guiana in the last shipment, some 200 of them died en route. This and the Mestorino affair are being investigated.


Source: The New York Herald - 2nd April 1930


Charles Mestorino, a Roman jeweler working in Paris, was suspected of murdering Gaston Trupheme, a diamond broker in February 1928.

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SALES OF INDIAN SILVER

Karachi


“Stop Selling Indian Silver In London”

Karachi Merchants Send Representation To Delhi


KARACHI, December 4- The Karachi Indian Merchants' Association In a representation to the Government of India support the contention of the Calcutta Indian Chamber of Commerce that sales of Indian silver in London should be Immediately stopped and Its price should be fixed by the Government of India with due regard to its current value In the country and other foreign markets.

The voice of the British treasury should not be the determining factor ln the fixation of prices of Indian silver.

The committee consider it anomalous that while the Government of India is selling silver at low prices In London they are withdrawing silver currency from circulation and request the Government to reconsider their decision in this connection. — A P


Source: The Bombay Chronicle - 6th December 1942

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INTERNATIONAL SILVER Co.

Meriden, Connecticut


Herbert J. Reeves has just retired as treasurer of the International Silver Company, Meriden, after nearly 40 years of service with the firm. Since joining the company Mr. Reeves has been progressively elected to the offices of assistant secretary, controller, assistant treasurer, and has been treasurer since 1939.

He is also a member of the board of directors, the executive committee and the pension committee, and is treasurer of the International Silver Company of Canada, Limited.

Mr. Reeves plans to open an office in Meriden from which to conduct his personal and financial business and to serve clients in matters of corporate finance and taxation.

Executive Vice President Roy C. Wilcox has announced the election of George L. Stringer to succeed Mr. Reeves. Mr. Stringer, a resident of Meriden, has been in the company’s employ since 1933 and its controller and assistant treasurer since 1939.


Source: Connecticut Industry - February 1950

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INTERNATIONAL SILVER Co.

Meriden, Connecticut


George Holmes Edward, secretary of the International Silver Company, Meriden, since 1941, and a director since 1917, retired recently from that post. Mr. Edwards, a son of the late George C. Edwards, one of the founders of the company, joined the firm of Holmes and Edwards in 1906, shortly after his graduation from Yale University. At that time the plant was located in Bridgeport, and in 1931 was moved to Meriden.

M. Taylor Mayes has been elected to succeed Mr. Edwards.


Source: Connecticut Industry - June 1948

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LATE FOR WORK? - MAYBE YOU CAN SUE THE JEWELER

Portland, Oregon


The head of the city nuisance department has officially informed the owners of Portland's 25 street clocks that the clocks should keep correct Pacific Coast time. Numerous complaints have been received recently by the bureau that every clock has a time of its own. These clocks are allowed on the streets by virtue of special revocable permits granted by the city council, and while the ordinances say nothing about the time the clocks are expected to keep, they do provide that the owners must protect the public from damage by reason of the presence of the clock. If a person should be late to work because of the time given by one of the clocks, the question has arisen as to whether that person would not be damaged. A majority of these clocks are owned by jewelers.

Source: The Jewelers' Circular - 14th November 1929

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PATHE NEWS RECORDS EVENT

Omaha, Nebraska


The Pathe News is featuring in various parts of the country a movie of the presentation by the Omaha Jewelers Guild of a diamond plaque to the State of Nebraska during the Diamond Jubilee recently celebrated at Omaha. The pictures were made on the court house steps at Omaha, when the jewelers presented the bronze plaque set with 75 diamonds and carrying the names of more than 500 public-spirited citizens. Governor Weaver is shown accepting the plaque in behalf of the State.

Source: The Jewelers' Circular - 21st November 1929

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ELGIN PURCHASES WATCH CASE FIRM

Elgin, Illinois


Elgin National Watch Company, with plants in Elgin, Ill., and at Lincoln, Neb., announced recently it has purchased all outstanding capital stock of the Wadsworth Watch Case Company at Dayton, Kentucky, near Cincinnati, and will operate that firm as a wholly owned subsidiary.

Elgin announced simultaneously a refinancing program by which, on December 18, the company borrowed $10,000,000 from Metropolitan Life Insurance Company on a 15-year serial loan. Of this amount, $6,500,000 is being used to retire current bank loans, $2,700,000 for purchase of Wadsworth’s outstanding capital stock, and the balance of $800,000 for current working capital.

Arthur W. Wadsworth, son of one of the co-founders of the Wadsworth company, will continue as president of the new subsidiary.

J. G. Shennan, president of Elgin, said Wadsworth was purchased primarily to assure Elgin of a continued supply of high-grade watch cases, since facilities of two case manufacturers who had previously supplied Elgin with 30 per cent of its requirements are no longer available.

Wadsworth will continue to make a portion of its watch case production available to manufacturers other than Elgin. Elgin will secure a larger percentage of its cases from Wadsworth than in the past, and will continue to purchase the balance from other manufacturers.

Shennan said another benefit to Elgin will be diversification of product, since Wadsworth produces and sells compacts, cigarette Cases and allied gift items, and produces emblems used on automobiles and home appliances.

Elgin manufactures only jeweled watch movements and certain precision industrial and military instruments. Hamilton Watch Company of Lancaster, Pa., is the only other exclusively American jeweled watch manufacturer currently operating, all other jeweled movements sold in this country being made abroad — chiefly in Switzerland.

Wadsworth was founded in 1889 and manufactured only watch cases until 1935, when the company expanded into allied jewelry lines. It began making automotive insignia and name plates last year. Like Elgin, which was converted 100 per cent to military production during World War II, Wadsworth produced more than 100 million precision pieces for the armed forces between 1941 and 1945. Wadsworth currently employs 850 people.


Source: The American Horologist and Jeweler - February 1951

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SYBIL DUNLOP

London


Among the representative feminine displays at the Woman’s Exhibition organized by the Daily Express at Olympia is Sybil Dunlop’s layout of art jewelry, which is attracting much attention. In this display is a series of chased silver hair ornaments set with semi-precious stones. One coronet has a flower-like center of bright stones, with smaller ornaments of similar design set on either side between large cornelians. Another distinctive silver one is set with the pale blue chalcedony that decorated the breast-plate of Aaron.

Source: The Jewelers' Circular - 16th May 1923

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QUESTIONED IN PARLIAMENT

London


Questions asked and answered in Parliament of the President of the Board of Trade, Mr. Peter Thorneycroft:

Imports of Gold Jewellery

Asked why he allowed the import of new gold jewellery while continuing to prevent British jewellers from obtaining new gold, apart from the small allowance for utility wedding rings, the President answered that the bilateral quotas for the year 1954 which permitted the import of, among other things, gold jewellery, totalled £60,000. He did not consider that these limited imports were unreasonable, considering that United Kingdom jewellers had access to supplies of second-hand gold for the manufacture of jewellery for the home market.


Source: Board of Trade Journal - 4th December 1954

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JEWELLERS PREPARE FOR CORONATION B.I.F.

London


Preparations for the Coronation have already stimulated world interest in British gold and silver plate, cutlery and jewellery adornments which add colour and sparkle to historic occasions. Many leading jewellery trade designers and craftsmen are now working on new articles which will have their first presentation at the British Industries Fair, to be held from April 27 to May 8. Nearly 100 firms will have their latest products on display in the National Hall, Olympia, London.

Taking advantage of the widespread Coronation spirit, manufacturers are seeking inspiration in regal themes and hope to start a new trend of fashion that will take in all branches of the jewellery trade with products ranging from costly suites suitable for state occasions down to inexpensive clips and brooches for everyday dress wear.

Jewellery such as the large diamond lapel clips worn by the Queen Mother has become very fashionable. The demand has also led to interesting adaptations designed to extend the usefulness of these items. Many clips are now fashioned so that they may be worn as two or more ornaments. Tiaras, which will be worn a great deal during the Coronation season, are made in separable units for individual wear as necklaces and dress adornments.

Since the Queen gave permission for certain of the royal emblems to be used in Coronation souvenir design, jewellers and silversmiths have been busy producing articles which will give every woman a personal touch of pageantry during the festive season.

Crown brooches to be shown at B.I.F. will be marketed for wear on dresses, hats and hand-bags. Some of these are of plain metal, some are set with paste of tri-coloured stones. Other brooches are based on the royal initials “‘E" and “ E.R.,” set with stones and, in some forms, surmounted by a tiny crown.

Heraldic lions and unicorns, and other royal symbols, have been used for Coronation silverware. These pieces also bear the Coronation hallmark to add to their historic value. One firm of silversmiths will show 17th century spoons bearing the Coronation mark in the bowl of the spoon. This follows the custom of that time, when a leopard’s head was similarly placed. Ordinary hallmarks in the spoons are stamped on the back under the stem.

Gold and gem-set jewellery exhibits will include a variety of Coronation charms, many of which are actual working models no larger than a thumbnail. These are finely modelled and enamelled in colour, and depict the Coronation Coach, Yeomen of the Guard, State Trumpeters and famous London scenes.

The Coronation theme extends also to powder compacts, of which there will be an extensive range on show.


Source: Board of Trade Journal - 20th December 1952

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THE ATTRACTION OF A JEWELER'S WINDOW

Milton, Massachusetts


A piece of a boulder weighing 10 pounds was hurled by a blast nearby through the plate-glass window of the jewlery store of C. M. Howard, of Milton, last Wednesday, and landed in a tray of watches in the show case, narrowly missing the proprietor in its flight, and causing a damage of about $300.

Source: The Jewelers' Circular - 13th April 1910

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GORHAM'S MARK AND THE BIRMINGHAM JEWELLERS

Birmingham, England


A curious development which has attracted a great amount of attention among Birmingham jewellers is the arrival of certain silver spoons in this country made by an American firm, and bearing certain marks which some people have mistaken for the English hall-mark, and the Birmingham anchor used in connection with the letter “G.” A British newspaper went so far as to describe this as “a daring effort to mislead both British and foreign buyers of-these goods.” Enquiries have failed to justify this sweeping and slashing attack. It seems there is a well-known American firm of silversmiths, whose trade mark somewhat resembles the standard mark of sterling silver; but enquiries have failed to discover any attempt at deception, and nothing is known in Birmingham of any effort to place the goods on the English market as bearing the English hall-mark. The following remarks on the subject by the Birmingham Daily Post are worth quoting :

“The firm in question is one of considerable repute, its trade mark has been in use for forty years, and the company thoroughly understands that it would not be permitted to mislead British buyers. The explanation of the trade mark is that the “G”’ is the initial letter of the company’s name, and the anchor forms parts of the coat of arms of Rhode Island, where the firm’s manufactory is situated. The mark also includes a lion, which is well known as the standard mark of sterling silver, but no difficulty has recently arisen in reference to the use of the trade mark, though there was probably some misapprehension before it was less well known than it is at present. It is probable that the attention now drawn to the matter is due to some persons having brought from America pieces of silver plate bearing this mark for private use, for it is believed that the company would not sell their goods so marked in England.”


Source: The Metal Industry - September 1907

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STRINGENT FACTORY INSPECTION

Sheffield


It is not generally known how stringent is factory inspection in Great Britain. A case came up last week where a firm of Sheffield silversmiths were summoned by the Chief Inspector of Factories for employing nine women working after hours on August 20. The law is that work cannot be continued after 8 o’clock without special permission from the Home Office. A partner in the defendant firm stated that they received instructions on the day in question that some goods on order must be finished that day. There was no possibility of communicating with the Factory Inspector. Had they not finished these goods the firm would have had them on their hands and would have lost a good customer. It was only the first time they had worked overtime for months, and it was a case of their retaining their customer or being brought before the court. The chairman of the magistrates expressed the opinion that the Home Office sometimes does not really know the technicalities involved, and that they might act differently if they did. At the same time the regulations were law, and a fine of 10 shillings, including costs, was imposed.

Source: The Iron Age - 1st October 1903

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THE BRITISH INDUSTRIES FAIR - 1947

Birmingham


Strong B.I.F. Jewellery and Silverware Section

Another instance of the strong support being given to the Fair is demonstrated in the Jewellery, Silverware, Cutlery and Electro-plate Section. This section as a whole will be organized by the British Joint Association of Goldsmiths, Silversmiths, Horological and Kindred Trades (formerly the Birmingham Jewellers’ and Silversmiths’ Association) and a uniform type of stand, designed by an architect, will be used throughout. The space applied for in this section, as in many other sections, is far in excess of that available and no guarantee can be given that late applications by manufacturers will receive allotment.


Source: Board of Trade Journal - 19th October 1946

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THE BRITISH INDUSTRIES FAIR - 1947

Birmingham


Jewellery and Silverware Section at B.I.F.

As forecast in the Board of Trade Journal of October 19, 1946, the jewellery and silverware section of the British Industries Fair has received strong support. This section, organized by the British Joint Association of Goldsmiths, Silversmiths, Horological and Kindred Trades, has received nearly 140 applications for space which would occupy approx. 29,000 sq. ft., and compares most favourably with the final allotment figures of the 1939 Fair. All types of jewellery, silverware and cutlery will be exhibited, and in the design of this section, special features, such as ‘‘ Sheffield Street” and a ‘‘Birmingham Jewellers Hall,” will be included. The exhibitors themselves will be divided into four groups — Birmingham, Sheffield, London and a miscellaneous group. In addition there will be 50 or more composite exhibitors. This composite arrangement will ensure that the maximum number of exhibitors in the jewellery and silverware trade can be represented. Due to the effects of the war and the collapse of German industry the British jeweller is finding himself able to take over certain classes of jewellery manufacture, in which, hitherto, German industry was dominant. Jewellers Findings, which were almost exclusively covered by Germany prior to 1939, are now being manufactured by British Jewellers.


Source: Board of Trade Journal - 11th January 1947

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RUNDELL & BRIDGE

London


The coal mines in Nova Scotia, owned by Messrs. Rundell and Bridge, jewellers, London, and from which so much fuel is shipped to New York, and sold as the Pictou coal, originally belonged to the Duke of York, and were by him transferred to the present owners. The directors of the Duke have recently filed a hill in Chancery against the firm and directors of the company.

Source: The American Railroad Journal - 27th October 1832

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SHREVE & Co. BREAK NEW GROUND

San Francisco


For the first time in its 116-year history Shreve & Company, Jewelers, of San Francisco has opened a branch store—in the Stanford Plaza, El Camino Real at Quarry Road in Palo Alto. Joseph Hickingbotham will manage the new store.

Source: American Horologist and Jeweler - January 1969

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INTERNATIONAL SILVER Co.

Meriden, Connecticut


A new director of The International Silver Company elected recently is Charles E. Lord, president of Hartford (Conn.) National Bank and a 1963 recipient of the Hartford Junior Chamber of Commerce Distinguished Service Award as the Outstanding Man of the Year. He is currently a director of several other growing companies headquartered in southern New England.

Source: American Horologist and Jeweler - January 1969

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ZALE CORPORATION BUYS IN TO LESLIE DAVIS

London


Zale Corporation has agreed to purchase 80 per cent of the capital shares of Leslie Davis Jewelers, London, England, to mark the first entry by the firm into the European retail market. Leslie Davis Jewelers currently operates 12 retail stores carrying a line of quality jewelry in London and its suburbs. Acquisition will be made through a series of purchases of Davis’ stock as capital is required for expansion of the rapidly growing London operation. Only market where Zale has operated retail outlets has been Puerto Rico which it entered one year ago.

Source: American Horologist and Jeweler - January 1969

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