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Show Diamonds. we navo reports fron San Francisco of the discovery of im niense quantities of diamonds, rubies, emeralds and other precious stones Bomewhere in Arizona near the line o New Mexico. They say,an alwayB suspi oious expression when gold or silver oi precious stones are subjects of report that $100,000 worth of the gems havt been brought to San Francisco and art now on deposit in the bank of Califor nia. We are further informed tha Harpending, ei af., are interested ii the discovery, and that a com pan with SlO.000,000 capital is to be in oorporated, with general MoClellan a president, to obtain the govemmen title to the mines, and to work them-two them-two items of information that ap pea to us to be very like "paste." Har pending & Co. will be remembered a the original proprietors of the mourj tains of silver in Arizona known a th Buro mines, which upon very sligh development proved to bo small de posits of moderately rich lead oref The formation of a company with M( Clcllan as president, and an immens capital, the chares of which are to h thrown upon the market to ba: gulls, appears to us also t bo very "pasty." Your ordinar man is apt to act in accordance wit the teaching of the refrain of tho ol song which inculcates the policy of sai lug a good thing you have got hold of, for yoursslf. Then too, the elevation of McClellan to the presidency of the sparkling scheme looks suspicious. It is playing the old game of giving character char-acter to a scheme without merit, by making a meritorious man its ohief sponsor. There is no reason, geological geologi-cal or otherwise, why diamonds should Dot be found in Arizona, but we would advise our readers to await further proof, before stampeding to that Territory Ter-ritory in search of chrystalized carbon |