davidaulloa/AmericanStories huggingface dataset:
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
FINANCIAL AND COMMERCIAL.
MON ETARY 7.
OFFICE NEW ORLEANS DEMOCRAT. |
Thursday Evening. May 20. 1878.
NEW nRIEANs CLEARING HOUSE.

Thus far this week s4.565, 1856 "a s454.5st 7s
At the banks and on the street the offerings
for discount are light, and rates for money
easy.
Securities are slightly weaker under the In
f1uence of the liberal offerings and light In
auiry.
We quote exceptional paper 7@s D cent: AL
do s@1o; second grade do "a; loans on col
laterals COS; Al mortgage paper sh@1o: second
grade do O v cent per annum.
Gold quiet but steady.
Foreign Exchange dull and easy.
Sight In fair demand and firm.
State Consols weak at 75a@76a.
Premium Bonds easy at 341s@34'4.
Stocks moderately active.
Gold opened In New York at 1908. and closed
at 1905. Sales $40 900 at 10l $4,000 at 10 $4,000
and $1,000 at 1915. and $4,000 at 101 ls@10la.
STERLING SALES $500 bank at 4s9: E4ooo
bill of lading at 4e6@4ses and 10000 do at 485 20
1864. Bank sterling -@4s9h: commercial bills
FRANCs-Bank francs :; commercial 5le7s
sfGHT-Bank sight 4. and commercial az
3-16 W cent premium.
NEW ORLEANS STOCK EXCHANGE SALES,
FIRST CALL. 10 A. NJ.
5000 Premium Bonds ................... 34'a
THIRD CALL. Q P. NJ.
shares Factors and Traders Insur-
ance Company ...-.'..e-....'....'-. lo27s
SALES REPORTED BY MEMBERS OF THE EXCHANGE.
BETWEEN FIRST AND SECOND CALLS.
$1,000 State Consols ACKNOWLEDGEMENTS. 76
BETWEEN SECOND AND THIRD CALLS.
265 shares Louisiana Lottery Company 7oa
$4,000 State Consols ............ .......... 7Gle
by Telegraph
NEW YORK May 23.-Money closed at 3
p cent Exchange closed steady at 1880
4ss. Gold opened at 1904 and closed at loo",
the only prices of the day. Governments closed
strong: currency 6s 12oss@121. Pacific Railroad
bonds closed as follows: Union tlrsts 1918 "a
lo72. land grants 1o6@1o6a: sinking funds
1904 @1OOh Centrals 1077s01o8.
In state bonds the leading features was Dis
trict Of Columbia 3.65s, which advanced from
so to 81.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
SECURITIES.

The Diocese Of New Orleans. q corporation
constituted under the laws Of Louisiana, by
Lilo CHURCH OF THE DIOCESE OF NEW
ORLEANS affords to It's creditors securities
that are both material and moral.
As a corporation legally instituted, it enjoys
all the rights and privileges of civil body. II
can contract debts, acquire borrow. ALLEVIATE
and mortgage its properties. whether movable
or immovable under the prescription Of its
charter. At their meeting Of January H.. 1873,
the Council Of said Society unanimously deter
mined, for the reasons above stated. to issue, At
the rate of per cent. a single loan of $3.50 0Oo,
secured by special mortgage on all the mort
gageable real estate Of the Diocese; and thers~
fore by deed da4ed January 26. 1873 passed be-
fore 0. de Armas, notary public in New Orleans.
the above resolution was carried into effect by
mortgageable real estate Of the Diocese to secure
the Bonds thus issued which VI, said fnortgsa,gge
was duly recorded as VII appear by certit 4
said act in the Office Of said notary.
Besides this solid guarantee. said corporation
pledges it's honor and good faith for the faithful
discharge Of tho above obligations.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
OBJECT OF THE LOAN.

During the crisis which followed the war Of
secession, and which weighed so heavily on the
Diocese Of New Orleans assumed liabilities
which they have determined to l1uidate. In
the past year a better state OF affairs fOOm5i uU
in the financial situation of the Diocese. That
Improvement will increase as the rate OF inter-
est claimed by its creditors is lessened
The conventional rate. in Louisiana, Is too
high for n religious society the revenues Of
which. though entirely secure. are nevertheless
limited, for, such society cannot look for
In speculations altogether inconsistent with its
mission Of benevOlsnee and charity.
Therefore it is not with view Of creating q
der to unity and consolidate anterior liabilities
and obtain their gradual and regular egtinc-
ton by means OF tho ordinary revenues Of tho
Diocese, and without endangerfng the church
property, although affecting it, Such is the
plan positively approved by his Holiness Plus
TX and unanimously adopted by the. Board OF
Administrators Of the Roman Catholic Church
of the Diocese OF New Orleans.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
PAYMENT OF INTEREST : RE-
DEMPTIoN OF CAPITAL

At their meeting OF January H.. 1873 the
Council of the Corporation ascertained that.
annual secured revenue of the Diocese, after
deduction OF the costs Of administration, leaves
a surplus Of $50 900 that can be disposed Of semi.
annually. and ii was resolved that
l. For the punctual payment Of the interest on
the loan q sum Of s12,5G0 shall from the first OF
January, 1875 and thenceforth yearly. be re-
served, appropriated and deposited In bank TO
meet these interests.
O. similar sum Of s1250o shall also. annu-
ally from the first OF January, 1892 be reserved,
appropriated and deposited In bank for tho
gradual curtaiment Of the capital. and 80 on
every year until it's entire extinction.
2. That. In no case and under no pretexs what.
deposited shall be used tor any other purpose
than those above expressed.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
QUOTATIONS

CORN-Light stock and market firm. Sales
$50 SACKS white mixed and 100 white at SIC; $50
yellow, $50 white and 262 do at b5c y bushel
OATS-Are dull. Sales-l5o bags at asc r
bushel.
BRAN-Weak. sales-1oo bags at 7sc, and $50
do MT BOc y cwt.
HAY-Ouiet and easy. sales-15o bales choice
at s15, and $50 do fancy choice Mt s14 q ton.
BULK CORN-Is in moderate demand at
48(N4s}sc for white. a0d 45G45 &c for mixed
POULTRY-Old chickens 81; young 81 5oCa3 !;
ducks 1903 30: geese s4(g5; turkeys sl2@l6 y
dozen.
EGGs-Western 1o@12c: Louisiana 12@15c q
RICE-Is firm. No. Q 4Ic; common 4h@
SIC, ordinary 5's@5lac, fair 81 use, good GAG
612c prime 6l@7e. choice 7l4@71ac y ID.
SALT-We quote dealers prices from their
warehouses at $4,000 y sack for coarse: 81 05
al 10 for fine. Turks Island dull and neg
lected: held at 3o@32c y bushel. Table salt in
pockets 1a@7z9c each as in size. .,o, :.
WHISKY-The demand for this article Is
moderate and in prices scarcely any change
from day to day. We continue to note old
stock neglected and dull. We quote choice
Cincinnati 81 O3@1 o. fair to good Western and
Louisiana six per cent s1@1 o..
BUTTER-Moderate stock. Demand fair.
Choice New York creamery 32033c New York
creamery good 2803Oc: New York good 24025c
low and medium grades 1s@22c. Western
choice. fresh packed 2o@22c; good dol4@1bc;
low grades s@12c.
W0OL-small lots of the new crop are coming
in but meet poor market and nom nal prices.
We quote bury 9@loc; Louisiana clear 10000
CHEESE Prime Western factory -011c;
good do 100101Sc. New York cream 141a@15c.
STARCH-In fair demand at &c In lots.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
MARKETS BY TELEGRAPH.
DOnlestICs

CHICAGO, May 23-Wheat opened with 81 Of
bid June Corn-38% July. Pork-s7 77h asked
July. 81 % asked August; no sales Lard-6.521s
July, 6.57h August. :,
9e4 July. Corn-3s4 asked June. 385z asked
July. Pork-s7 62h June, 81 80 bid July ,s8
August. Lard-6.471s June, 652196 50 July.
6.57k@66O August. Dry salt meats nominal
short clear 4.5o short rib 4.35. shoulders 3.62a.
Union Stock Yards.-Estimated receipts Of
hogs to-day 26.5oo; yesterday 25.4l7; shipped
Cairo; market opens rather quiet but weak. and
prices are 1oc lower: demand mainly for the
better quality OF heavy for. which 1903 o5 is
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
SUMMARY.

From what Dreeedes it follows IT.
That the loan is negotiated with tbs sole
object of liaudating all former debts.
That 1t represents the liabilities Of the So
ciety OF the Roman Catholic Church." which are
duced interest
That it is secured by special mortgage en-
properties worth five times as much as the
amount borrowed. and therefore amply sufi-
cient TO guarantee both the payment OF interest
and the redemption Of the capital. i
Consequently the Mortgage Bonds OF the Do
cese Of New Orleans constitute first-ciass in
vestment, with moral and material securities
but seldom offered to capitalists.
TN. J. PERCHE, Archbishop.
MrLLET, v. g.,
Administrator of Finances. apps 2m
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
ap13 3u1
BARNES HOTEL,
SISSIPPI CITY.
1J1HE UNDERSIGNED HAVE LEASED FOR

vINHE UNDERSIGNED HAVE LEASED FOR
L term Of years this celebrated Watering
scenery FINE SEA BATHING and FISHING
semi-distant from New Orleans and Mobile, on
the New Orleans and Mobile Railroad, q ride
and accessible by direct railroad and tele-
graphic communication to all parts OF the
country. and with accommodations -uneaualed
by ANY HOTEL ON THE GULF COAST:
intend int 't to make BARNES HOTEL the most
comfortable and desirable house In the South.
both for SUMMER and WINTER RESORT.
Invalids will find every .delicacy. comfort and
attention, while the votaries Of pleasure will be
DIX N brN both BhAss and sTENG
GALLERIEs, ARCHERY. CROOUET, AND
ALL OTHER GAMES productive of health
The Bar will be furnished with Wines and
chased.
We appeal. by right Of our past reputation as
port Of our people. for whose benefit We make,
as below, our rates as toW az consistent with
Guests will be received at any time from date.
The House will be fully opened on the first OF
June.
Board, per day, ..-....'-'..-.'.' W 81
Board. per week. ,...,.....,, Is 0t
Board, per week, per month, ............ IL 0t
M .-FREE OF CHARGE .Excursioniste
and other parties will find at Barnes Hote
magnificent Picnic and Encampment Grounds
of fifteen acres. shaded with live oaks. with
privilege Of bathing and Fishing and are
CHAS. 2. BMEDEs Agent.
JOHN E. ROWLAND.
my1 2m Proprie'ors.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
COM N ERCIAL.
OFFICE OF NEW ORLEANS DEMOCRAT. !
Thursday Evening May %. 1873. !


Thursday Evening. May %, 1873. !
GENERAL REMARKS - This has been q
clear. hot day. Dizziness reigned in all branches
of trade.
The demand for cotton was good. and sales
amounted to 1900 bales. There is no auotable
change in prices.
The sales of Flour footed UP only 325 barrels
at from SIS 1906. Owing to the liberal offerings
the market ruled easy.
The supply and receipts of Corn Meal are
light. and the inquiry moderate.
Owing to the continued unfavorable advices
from the West the Pork market here is weak.
The supply Of mess is large and the demand
small. The receipts of hogs at Chicago CONT
nue. large. amounting to $4,000 to-day against
$4,000 on Wednesday.
Of Corn there is light stock and the marke+
Is firm. The sales footed up 1912 sacks at "a and
55c y bushel.
For sugar there is a moderate local demand.
The receipts were 81 hhds; sales 40 hhds.
COTTON = A steady demand prevailed
throughout the day and the transactions
amounted to 1900 bales. The tone of the mar
ket was slightly easier. although without quota
BILE change
The following is the official closing of the
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24

The Washington Evening Post OF the
eighteenth instant has an elaborate article on
the resumption OF specie payments, and be-
lieved to have the sanction OF the Secretary OF
the Treasury. 1t is said there can be nothing
in the way of the Secretary having in the
for resumng that he has calculated on,
namely S205,0OO,O00. With this amount ne
can, without difficulty, redeem the outstand-
ing S287, 900, 900 in greenbacks. The Secretary
does not anticipate that he will be called
upon to redeem more than $102,00O,0OO. but Is
securing coin to meet any emergency. 1t 10
Thought that greenbacks being redeemed In
gold or silver will be preferred by the people
to bulk coin The only thing that keeps gold
above par Is likely the fact that customs duties
are payable alone in this coin, and the chances
are that the passage OF bill making green
backs receivable for such duties will cause the
slight premium to disappear. Imports are
trade in our favor. The yearly gold pay
ments by the government for interest on
bonds is about 500, OOO, 900, which is more than
covered by receipts from customs which are
not calculated for use In resumption. Ma
tional banks will also have to resume. Their
posits, S66l 575 SIT; making their total liabili-
ties about $500, 8l6O52 The total cash re-
sources. including the per cent redemption
fund In the treasury, as required by law, are
about S550, 201 ,055. Every dollar OF their notes
is secured by United States bonds to an
amount of at least 10 per cent greater than
tho amount Of Notes outstanding These
bonds are of ready sale and can, In the ordl-
| nary course of business, be easily converted
into any kind OF money. In banks, othel
than national, there are deposits of SONS
81 800, 100000. These are private and indi
vidual banks, however. and their Liabilities
are not in any way connected with the gov
| arnmput.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
MONTROSS AND SHADY GROVE,
BILOXI, MISSISSIPPI,
Now Open For the Reception of Guests.

rI'HE UNDERSIGNED TAKES PLEASURE
l. in announcing to his friends and the
travelling public generally. that he Is able this
season to offer Increased comfort and addi-
tional accommodations to his many patrons.
Having leased the SHADY GROVE HOTEL for
with the MONTROS3 HOUSE. Both hotels
have been thoroughly renovated and refitted,
situated directly , on TIE beach affoFdiag fine
ing, bathing and fishing of the finest descrip-
ton No expense will be spared to mako the
Montross and Shady Grove Hotels flrst-elass In
every respect Terms reasonable. Special
Rates to Families and Permanent Guests
Meals to Exeurstonists 81. With privilege OF
Inys Am ?. ]. MONTROss, Proprietor.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
REAL ESTATE OFFERED AS
SECURITY,

From the official report recently made TO tho
Holy SEQ the Church property OF this Diocese
is divided follows:
Independent or interchangeable prop
critics valued at about. ............, 81 90 600
Morgageable properties valued ut its
minimum rate. OBSERVATION-DISCLOSURES. 81 900 900
This latter. the only real estate affected by
amount OF the loan includes several buildings.
lots, fields and other productive properties not
dedicated to the worship Of God.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
294O MORTGAGE BONDS

These Bonds dated January l. 1878. are signed
by the President, the Treasurer and the Seere-
tary of said Board Of Administrations. with the
see ar ne By g 0ege de- A
mas. a notary public In this city They bear an
annual interest Of per cent net from the date
of issue to maturity, which interest is payable
semi annually as per coupons attached viz:
On the first OF July and ON the first Of Jan uary
of each succeeding year.
The capital ls payable at par In twenty years
from date, by drawings to be- effected annually
commencing January l. 1882.
The Interest and eurtaiment are payable in
New Orleans, New York. Rome, Paris. and in
several other cities Of the United STAGES and Ell
rope. which will be hereafter designated.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
LAKE! LAKEi! LAKE!l!
THEOLD SPANISH FORT HOTEL

Wild OPEN ON
WEDNESDAY, MAY q,
under the management Of the we'll known ca
terer. PHILIP BILLMAN. Visitors will be
served with the best the market affords by DO
lite and attentive walters. The bar will be sup
piled with the choicest Wines and Liquors,
from the we'll known "Sazerac." Cars leave
from the corner Of Canal and Basin streets.
m VT m
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
ocean Freights.

New YORK, May 23.-In oeean freghts there
was some irregularty noticeable. with moderate
business, To Liverpool by steam 16 900 bushels
grain at I'D: 1000 boxes cheese at ts. TO Lon
bark to Cork, for orders, with $500 quarters
grain at IS 1od. A British bark same voyage.
with 1900 do at Gs. Another to Dunkirk with 1000
do Mt So 7 I'd
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24

y The "New Orleans Cotton Exchange Mu-
tual Aid Association" has been organized and
The following named officers elected Presi-
lent, J. Il. Glenny; vice president, Ihos. ii.
Hunt; directors. John Phelps, John Chafie
and John i. Lafitte; secretary, II. q. Hester
The directors have, we understand fixed upon
a constitution which will be submitted at an
Dearly day to the members for ratification.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
THE SUBSCRIPTION is OPENED IN
NEW ORLEANS:

AT THE ARCHBIsHOP'S RESIDENCE Sec,
retary's office,
AT A. CARRIERE b SONS, Commission Mer-
chants.
AT THE PEOPLES BANK
ATTHE HERNIA ms RANCE COMPANY,
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24

The exports to-day were 1900 bales to Liver
pool and 1912 to New York.
Net receipts since yesterday ..,...-.'', 24s
Haneinte from other porta. ,.,.......... 2t9
Net receipts last Thursday ....,....... 4s6
Moi raoei,,ta aame dav last year ...... 446
Nat reneinta since Friday .............. 3,5O7
Nat reoeints same time last week ..... 4133
Net reeeipts same time last year ...... 1921
Nat raneints sinoe Eeptemher 1......... 1853 g56
Maj receints same time last wear. ...... 11G3 551
Cotton on shipboard as per account OF the
Cotton Exchange Is as follows: Liverpool
12.54s bales. Havre, 6s7e Bremen 3749 Mediter-
ranean = coastwise 1856; total. 4,701 bales:
This, taken from the stock Mt noon, az noted
at the Exchange. leaves in presses 6o.593 bales.
The receipts at all ports, consolidated as per
from noon yesterday to noon to-day of 2l29
bales against 1892 bales last Thursday. l75l last
year and 2649 the year before last.
The movement at ports for six days. up to
IL M, to-day, Is given below:
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24
Furniture
At
JOHN BOIS',

ISZ, IS4..C Camp street......ISZ, ia
Is now prepared to sell fine as we'll as ordinary
New Furniture at greatly reduced prices.
Country orders respectfully solicited.
P S-Also Furniture taken on Storage. and
Second Hand Furniture bought. sold and OK
changed One price only on each and every
article. No deviation. Country orders prompt
lv nl1ad n0b15 BIN
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24

Recsipts at ports since september 1..-.,4, 1886
Reoeints same time last year .......... 1865 1854
Receipts same time year before. ........3.9 1877 8H
The consolidated report for six days gives
exports to
This week .2s,G4G 41o1 2.3a4 2961s6
Last week :A,67l 4721 500 1,4oo a2'273
This week last
OCEAN FREIaHTs-Are quoted as follows:
vel d to Bremen ID; to Boston, Providence,
Fall River. Phiadelpha and Baltimore via New
York Sc to New York ~ s5aR to
BY sail Cotton to Liverpool 16@Q I'D: to Havre
Ie; to Bremen xc; to Genoa H@lc; grain to
SUGAR. Receipts 81 hhds; sales AZ hhds.
There is moderate local demand.
We anote; Insfior fa1g to po eom nq
pin grime We 7He; er%y eaylhsd yellow oisrl
d as y agsy Lhs car S g e good TO
MOLASsEs- Receipts SO bbls sales 50 bbls.
The market is quiet and steady.
F! We quote: Common 1sa020c: tair 23n25e'
prime s2@35c: strictly prime s6@3so: choice
'FLOUR-Under the influence q, the, liberal
offerings the market ruled easy and in favor of
buyers. sales-75, so and 125 bbls at s. TO- SO on
private terms. and rs at Sc y Dbl.
| We quote: Fancy choice s. 81 S@6 25; family
81 5o@5 rs trebes. low to choice. 81 1905 so:
double extras - 1904 80; single extras st0
a.: superine -@s4; fine % 5o@3 IS Dealers
/
'n ooR Nm MEAL-The market is firm, with a
moderate inquiry and the receipts s Were gh h
bling at 81 1903 bb Sales-loo bbls at 81 75F
DREAM CREAM AND PEARL MEAL-western is
quoted at 81 1903 is v Dbl OK landing, and 81 rs
GRITs -The demand continues good and
prices are fully maintained. There are some low
qualities. which are sold on their merits but for
Hudnot's the market is firm at So 25 ex- landing.
and 80 for other choice Western products. The
iohhing rates. In lots sold out of store are now
quoted firm at 50 25@3 40 D bbl as In quality ana
COW PEAS-The market is easy and actire,
with moderate supply. on sale. We
quote low mixed 9oc@s1. good mixed 81 o5@1 t.
and good tn choice clay 81 coal So
/ PORK-The supply Of mess pork on the mar
ket Is large and there ia but little demand. The
tone of the market is easy in consseduenee OF the
tinue to quote mess dull and nominal at 50 To-
Dealers are still selling ut 5000 rs for small Lott
out of store sales-25 bbls at. s. rs; 80 on pri-
''i DRY Y SALT MEAT-The supply is fair and
the market dull. easy and unchanged; we
backed. Dealers are stili iobbing out of store
at 4@4tsc for loose and packed.
BACQN-,Is quiet, and with only now and then
nrm and in fair demand at 4}sc. and sides dull
and easy. clear rib sides NC and clear sides 5sc
Dealers are stu o66ing shouders At b essl
clear rib sides at nc ' ii.
HAMS-The feeling ia steady and the inquiry
moderate. We quote plain hams at, 61s@7c
choice medium to large 7A@84. and fancy
small averages sla@sa1. Dealers rates are
"a. higher eals s; t e., at SC; wsonos
refined lard 7a@7h for good to choice. and
packers prime steam ex@fc kegs ssG and
p9B5Rs EAkFAsT f BAGoNThe a supply on The
D choice goods ut 7@7lsc: dealers are charging
FJTToN N BEEF1Half bbs 50 IS: extra West
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24

the United States during the past twentyone
years has come from Brazil. During the last
six years there has been slight falling OIL In
the relative quantity coming from that coun-
try. and an increased proportion OF about
Der cent has been received from other sources
Of supply.
Our imports of coffee from Brazil during
the five years ended June 3d. 1876, averaged
In value S33, 55s,260 per annum, and for the
last fiscal year the value was $3G022525. At
the same time the total exports from the
United States to Brazil averaged for the five
years above stated but S7,196,ss1 per annum,
and for the last fiscal year but 1851 ,8l3,
We have thus been paying to Brazil over
$26,O00,O00 per annum in gold during the live
years referred to. and the last fiscal year over
1925, 100000 for the one item of coffee Upon
all products exported from Brazil there is i'm
posed by the imperial government an export
duty of 10 per cent. There has, therefore,
been paid upon the coffee taken from that
country by the United States an export duty
which has amounted, during the last six
years, to an average Of over 81, 900 per an
mum.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24

/, A huge silver vault Is now being constructed
IN the sub-treasury building at New York.
THE vault will be Al feet in length by "a In
breadth and IL feet high and 1t Will hold
SAC. OoO, 600 In silver when it is finished The
cost of the iron and steel work employed In It's
aconstruction was about $4,000, including the
doors and their levers. The floor OF the vault
will be made Of iron and steel two inches
thick. and under this floor will be four feet of
concrete. The vault extends from the floor Of
the cellar TO the ceiling of the basement. An
elevator will be used to move the silver to and
from the vault