The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-06-27
STRONG TREASURE HOUSES.
Where the lIoneyed Men ofNew York De-
post Their Cash and Valuables.
The Great Safe Deposit VauIts-W Where Van
derbilt Kept His Millions-Interesting
Facts About Great National Banks.

NEW YORK, June 23.-Money may may mol
be the root of all evil but it is certainly the roo
of all commercial activity Reduced to its sim
plest meaning. the roar and hustle Of great
metropolis is only the sound of money changing
hands. 1t leaves the bank every morning eithea
in bills, checks coin on its daily rounds throug1
a thousand avenues of trade and commerea
until it finds its way back to the vault.
Necessarily the great money depots Of
the continent in New York city. There are
about seventy-fve banks represented every day
at the clearing house, and there are nearly az
many others which conduct their business opera
tions independent Of it. Then there are the
safe deposit vaults-comparativel recent but in-
teresting institutons-whi abound in all parts
of the city. The large uptown vaults mag
nifcently appointed. Here the millionaircs uR.
load their stocks. bonds securities, and often
their cash, for safe-keepinc. The floors ara
tesselated. Plate glass, marble, polished brass
and steel are the material which make up
their interiors. The vaults are approached
through a network of steel and iron.
They are low, square apartments, tbs
walls of which hold lockers of all sizes, ranging
from four inches wide by two deep to two feet
square. The rental of each slide varies from $8a
bilt for his slide in the vault of the Lincoln Ma
tioual Bank. The slides are of tin, about three
feet in length, which fit into the compartments
of the wall, and are inclosed by heavy iron
doors.
"But is there not danger that patrons mag
open each others boxes?' the superintendent Of
the large vault was asked.
mot the slightest danger" he replied. s'You
see" he continued, while he stirred ur a hugs
pile of keys which laid upon the table befors
him. mo two of these keys are alike. Whom any
person hires slide he comes to this pile ane
picks out key at random. We then fit the
lock to the key. But no customer can open his
slide. even them unassisted. There is a second
lock to every door which cannot be turned exc
cept with key which / carry. so that no slide ID
accessible without the assistance of both tht
lessee and the authorities of the vault Thu
protects customers from each other and relieves
US of any temptation to load up and start foa
Montreal"
Each of the large vaults has coupon-room
containing a number of stalls supplied with
writing facilities into which customers may re
tire to attend to their coupons and all corfS:
spondence relating thereto They are free to al
customers lt is said that many business men
who have little or nothing to deposit hire small
box for the sake of getting the privilege of tha
couponr rooms and saving the expense of Office
rent.
For some years all the checks of the Wander
bilt family had been drawn against the Lincoln
National Bank which was founded by William
H. Vanderbilt to save himself the commissions
which formerly went to other banks. In q corr
ner Of the great deposit vault of this bank in
closed by heavy iron bars, are the slides used by
the Vanderbilts The inclosuro is perhaps sir
feet square, and contains an ordinary
table and chair During the latter years
of his life, Mr.. Vanderbilt vas fss:
frequently seen at this table porting over hid
private papers. Here he enjoyed absolute ss-
clusion with large share of the fortune which
he controlled at his elbow. In the large boz
dedicated to his private use he once kept $50 006
600 in government bonds Two men were kept
busy hight and day clipping off the coupons.
The slide will be reserved for the use Of Mrs.
Vanderbilt
In another part Of the vault is the slide leased
by General Grant. 1t is about six inches squares
and lies next to the floor. 1t is now held by ona
of his sons.
On the west side of Broadway opposite the
City Hall Park, stands low antique structure
OF brown stone, which looks like remnant of old
New York Surrounded by magnificent ware,
houses, its quaintness and simplicity challenges
attention. 1t is the Chemical National Bank
one of the greatest banking houses in the
world. Although it has never paid cent Of in
terest. it carries upwards of 23,000,000 net ON
deposit: With capital stock of $500, 900 it has
accumulated surplus of $4,500000 Three
thousand two hundred dollars was re-
Gently bid for q single share of it's
stock, which originally brought $780, The
Chemical Manufacturing Company was organ
lege of banking In 1914 the bank proper was
organized by Peter Goeet who then lived ON
the corner OF Broadway and Nineteenth street.
Its directors were money lenders instead of
money borrowers, and il started with clientage
of those fortunate old New Workers who owned
most of the land on which what is now called
uptown was built Inevitably, these men grew
solder until it had a clientage of OK;
traordinary wealth and influence. Since itg
organization it has paid over So, 500, 600 in
dividends. n
100. Perhaps one Of the most important reasons
for its success is the fact that it has always
maintained specie payments. even when gold
was quoted at $50 Its interior is exceedingly
plain. From the bare boards of the floor to the
unvarnshed plast r Of the ceiling there is no
appointment which does not serve some pur
pose in the processes of banking. There ara
rugs. polished metal gorgeous
hangings. Its plain appointments have become
old and worn under the attrition OF hard
work. A bank cashier from the far West
while in the city recently went to take a look al
the bank and exchange compliments with its Off
GERS. He had expected to find place resplen-
dent with brass and marble and porphyry. AS
tonished to find it so plain, he remarked: II seq
you do not go in for frescoes" mo-" replied the
cashier. I'VE fresco the vault" Probably either
the Park Bank. or the Importers and Traders.
handle as much money as the Chemical. but
when we consider that they have more than tan
lines the capital stock of the latter, our minds
canro. institute comparison between them.
But the lars-rs depository Of money In Ameri-
ca is the subtreas,,.,rv oc.'lding that STANDS on
the corner of Wall and NASSAU streets Every
one who ever visited New York hae seen 10 ana
the heroic statue of Washington which s.ands at
ts dorIc portals and the stone on which his ,.sor-
tai feet once stood Eighty-fve percent Of Uncle
Sans debts are paid here. From fifteen to twenty
thousand of his checks are paid here daily. The
receipts of postmasters. customs and internal
revenue collectors are turned into it's vaults. It
carries on deposit average sum of $3.50 600. 600
in cash. Half of this amount is in gold, which Ia
stored away in bags containing 81, 900 each. Its
average 5000, zoo. 1t is substantially built OF
white granite. Its ceiling is a dome of white and
gold supported by Cornthian pillars 1t is an
architectural strong box, and its walls are thick
enough to shut off the most penetrating crpidity
from the treasures within.