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    "localId": "75721429",
    "label": "Newspaper Article, May , 1927",
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    "title": "Newspaper Article, May , 1927",
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    "ocrText": "Page 182\nThe KEYSTON E\nMay, 1927\nThe publicity association also has directed letters to New\nLaudable as this action has been, it is not enough. The matter\nJersey Senators and members of Congress, calling their attention\nis one which intimately concerns everyone in the jewelry busi-\nto the statements appearing in this article and enlisting their\nness who is unwilling to stand silently by and see his business\nco-operation in having the Bureau of Mines secure a correction.\nhurt by misleading and untrue stories such as appeared in the\nIn these it is stated that the jewelry industry is, naturally, very\nAmerican Weekly. THE KEYSTONE early took the lead in calling\nmuch interested in knowing that both the Bureau and Mr. Hess\nthe matter to the attention of those prominent in the industry\nhave been misquoted, likewise that they, as well as the jewelers\nand has secured active support in the work from many.\nof this country, are entitled to a retraction from the newspapers\nin which the damaging article appeared.\nTrade Resents Damaging Articles\nSuch a letter as that from Mr. Hess needs no comment here.\nImmediately upon receipt of word concerning the article from\nIt shows beyond a doubt the nature of the article published by\nthis office, Richard J. Petersen, president of the National Whole-\nthe Hearst papers, a sensational story without regard to truth\nsale Jewelers' Association, instructed George A. Fernley, secre-\nor consideration as to who might be hurt by its publication.\ntary of this association, to voice its protest to the Hearst organ-\nThe story of the South African find of a tremendous supply of\nization. Mr. Petersen also wrote a personal letter to the editor\nplatinum that will reduce prices on this metal to a minimum\nresponsible for publication of the article.\nis also without any more foundation than the statements\nR. G. Scheer, secretary of the Rochester (New York) Retail\nattributed to the Bureau of Mines. Almost since time immemo-\nJewelers' Association, at the request of President Frank Tarrant,\nrial, as almost every jeweler will remember, there have been\nbrought the matter before the monthly meeting of this group\nreports of startling gem or precious metal discoveries, and\nwhere it was discussed with much animation. As a result, a\nalways, so it seems, is there a publishing organization such as\nresolution was carried to the effect that the editors of the New\nthat which the American Weekly represents which will imme-\nYork American be written to concerning the article and severely\ndiately burst forth in glaring headlines to give credence to mere\ncritisized for its appearance. In a letter to Bartley J. Doyle,\nhearsay. These articles take advantage of the prevailing public\npresident of The Keystone Publishing Company, Mr. Scheer\nignorance concerning the actual facts of gem and precious metal\nstates: \"You can rest assured, we are going to do our part in\nproduction and consequently do untold harm to jewelers whose\neliminating anything which will demoralize our business. We\ncustomers gullibly accept all that they see in the newspapers as\nappreciate your alertness in this matter and, no doubt, through\nthe truth and proceed to withhold their jewelry purchases until\nyour efforts and those of the Jewelers' Publicity Association,\nthe heralded drop in prices. Needless to state here this drop has\nthings like this will not appear in the future.\"\nnever come and, chances are, probably never will.\nJohn Jack, of Rochester, New York, president of the Asso-\nArticle Reflects on Diamond Values\nciation of Jewelers, Engravers and Stationers, states: \"You\nmay rest assured that we are heartily interested in this matter,\nOne of the last instances of this kind was an article which\nand will take whatever action we can as an association to bring\nappeared on March 13, entitled \"Why Diamonds Should Be\nthis matter forcibly to the attention of the publishers of the\nCheaper Soon.\" This appeared in some of the same publications\nNew York American.\"\nwhich carried the platinum article. It presented the discovery\nThe following protest was voice to the New York American\nof the new alluvial diamond fields in South Africa as a reason\nby Harry Larter, of Larter & Sons, New York:\nwhy diamond prices should decline, stating that large quantities\nApril 14, 1927\nof the precious gems were expected to be found in the new fields\nThe New York American,\nby individuals not connected with the diamond syndicate. The\n238 William Street,\narticle went on to state that the anticipated finds in the alluvial\nNew York, N. Y.\nfields would be so great that, even though the syndicate should\nDear Sirs:\nattempt to buy up all the stones in an effort to control prices,\nAs manufacturers of fine gold and platinum jewelry for a\nthe buying power of this great organization would eventually be\nperiod of over sixty-two years, we think that if you should\nexhausted with the result that prices would decline rapidly.\ninvestigate our standing in the jewelry industry you would\nDiamond Prices Remain Firm\nrealize that the following protest which we are making should\nnot fall on non-reponsive ears.\nAs a matter of fact, the new fields fell far short of the expecta-\nIn last Sunday's New York American there was an article\ntions evinced in the article and the latest news from South\nabout the discovery of so much platinum that it would be\nAfrica brings word of the fact that many of those who rushed so\ncheaper than gold, and if this were true it would be very dis-\neagerly into the new fields are returning empty handed and dis-\nturbing to concerns like our own, as well as many, many others\nappointed. It is also interesting to note in the Gem Market\nin our industry. The situation, however, does not substantiate\nReport which appears in this issue of THE KEYSTONE that dia-\nthe misleading statements contained in the article above referred\nmond prices are remaining firm and that the market in general is\nto, and we are very much surprised, and are protesting as\nin better condition than it has been for some time. What gems\nstrongly as we can against your publication of articles containing\nhave been produced in the new fields have been easily and\nso much mis-information and so misleading as that above\nquickly absorbed and, in many cases, there is an actual shortage\nreferred to. We think you are doing a great injustice to your-\nof high-grade gem stones.\nself, and certainly to the great jewelry industry in creating\nNevertheless, the diamond story appearing in the newspapers\nthoughts in the people's minds that are so misleading as your\ncreated considerable disturbance and, undoubtedly affected the\nstatements in the recent article above mentioned, and we hope\nsales of many jewelers. However, immediately following its\nthat at the very first opportunity you will be honest enough to\npublication, the National Jewelers' Publicity Association pre-\nget the facts and make your refutation of the misstatements\npared a statement which was released to the Associated Press\nwhich appeared in last Sunday's New York American.\nand other news services, pointing out the true facts, thus show-\nVery truly yours,\ning why there would be no reduction in the price of diamonds.\nLARTER AND SONS.\nThis was generally carried in the newspapers throughout the\nHerbert L. Farrow, of Carter-Gough & Co., Newark, Nev\ncountry at that time.\nJersey, has also expressed his disapproval of this article in n\nImmediately following the platinum article, the association\nuncertain terms, and has been in touch with John Drake\nreleased to the Associated Press and other news services, a con-\nexecutive secretary of the National Jewelers' Publicity Associa\nstructive statement on the platinum situation, and is following\ntion, in an effort to obtain a satisfactory statement of fact\nthis with other news articles to the newspapers. It has also\nfrom the Hearst organization.\narranged for a syndicated article on platinum.\nWalter P. McTeigue, president of the New York firm whi"
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