The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-12-22

over the specie comes on the next big mail
steamer.
Here again the similarity of shipment to
lnas OF ordinary merchandise is evident.
ins gold is taken from the bank in canvas
bags to the brokers' or bankers Office and
repacked in small iron-boupd kegs. A
visit IS made then to an insurance COM
Pany,s office and the contents of the little
Kegs Is insured at q rate of about one
elgnth OF one per cent. A couple of bills of
laolng are secured and ore of these is
shipped with the gold and the duplicate ia
put IN an envelope with the insurance pol
ICY and sent across by mail steamship
which sails about the same time.
Vt course there is a big object in doing
TINS, because If by some mishap the steam
o. carrying the specie should go down the
insurance policy would still be all right
and the Unfortunate insurance company
would still be responsible; besides, the
duplicate bill of lading will furnish in
dubitable proof that the gold was shipped.
Thus there is very little risk attendant upon
the shipment of the specie.
After oil these precautions against loss
have been taken, the gold is carted by
truckman, who makes speciality of this
shipment to Southampton. The gold is
placed in the mail car with special guard,
ana as there are no road agents of surpass-
ing pluck in England, the gold is about as
certain to get to the steamer as the hours
are to come around. Besides, the robber
who has the bad Judgment to try to run off
with key of gold would tire out before he
got very far with his booty.
Upon the arrival of the treasure at South
ampton or Liverpool, as the case may be,
the gold is put aboard the steamer and car
ried below to the iron or steel enclosed
apartment known as the mail room. just
as soon as the specie gets aboard the steam
nrsl fnkec charm NJ IL nvA
forth until it is landed the steamship COM
pany is responsible for it to the consignor
and the purser is responsible for it to the
company.
This mail room differs in size on the va
rious steamers. but they are all about as
fact, they are veritable safes built into the
steamer, and may be opened only by the
purser: So you see there is no divided re
sponsibility here, for the purser is the only
one who has the keys, and he usually knows
how to keep them pretty safely.
Once locked up the gold remains undis-
turbed, unless by remote chance a key
occurred, but should it transpire in the fu-
ture the steamship company can only come
up to the banker Office and settle.
All steamships which carry the mails also
carry gold, and as the transportation of it
is extremely profitable, the rates even now,
OosP'Lo veIy NlRolouS cOApeClGAOH, DelnR
of one per cent, the bankers
have little else to do than select the first
steamer which leaves port. By means of
cablegrams the consignee is informed at
what time to expect the treasure to arrive
and he has his truckman down on the pier
ready to receive 1t as soon as it arrives.
Every banker and broker ON Wall street
knows that there is only one man who does
this exceedingly responsible work. He is
John Barclay, whose trucks have carried
from the steamers to the bankers offices
enough gold and silver to have paid off the
national debt. He doesn'nt always 20 to
the bankers Offices, though, for in the ma
according to instructions, direct to the As
say office in Wall street.
There the entrance is made through the
big gates at the west of the building be-
tween the Assay Office and the Sub-Irea-
sury. The gates clang to again, and that
lot of gold goes in never to go out again in
exactly the same form. The gold, still in
kegs, is rolled into the Assay office on queer
little trucks, and goes into the big room on
the first floor, where MIR. Graham has pre-
sided with power for SO many years. Then
it actually becomes the property of the
treasury department of the United States
government. For it must not be supposed
chat it is put ulon the money market in
either sovereigns or in our own specie when
it arrives.
On the contrary, in whatever form it
comes to the assay Office, it is taken and
dumped on the pretty brass scales which
tower behind Mr.. Glaham's desk and, care
fully weighed. These scales are worthy of
. visit. While they are MT especially i'm
pressive in appearance, they are capable of
1oing big lot of work. They can accom-
nodate very nearly Il thousand pounds, and
will also indicate to hair when there is
only grain on their plates.
%hx, l>n, Ii,
credited representative calls at the assay
office he presents his advices and the gold
s weighed on Mr.. Graham's scales. The
banker is given check upon the sub-treas-
Try next door in amount to represent three
quarters of the value of the gold in ounces,
'he remainder payable after the gold has
been assayed. This is done for the con-
,enience of the banker, who may wish to
lse the money right away, and for the pre-
lection of the government.
1t can usually be determined very soon by
hese experts in the assay Office whether the
.old given them is of fine quality or not
70 they don't t,ke many risks in makirc
his advance. The custom has been OBJ
erved for very many years, and there is yet
Q occur anything to make change advisa-
lie. As soon as the banker receives his
heck upon the sub-treasury his interest in
he transaction practically ends. Of course
le is still interested III the one-quarter of
uo Nuiue Oh VIC kOlU WHICH IL 6Glll coming
o him, but his main object, that of secur-
nR the gold to meet the pressing demand
Il his customer, is accomplished. Upon
he presentation of his check to the sub
reasury he receives his money in nice new
'old certificates, in gold coin or however
Use he may choose.
At the assay Office the gold received is
AIKEN to the smelling room and there
ossed into the big crucibles, where the
.uriication by fire takes place in a mighty
hort space of time. Then the molten
METAL, relieved of all alloy or other extrane-
us matter, Is run into FORMS producing +
ghen coined pretty yellow blocks of gold
bout three inches wide by five inches long
nd two-thirds of an inch thick. These
'ricks, valued at about 5000 each, are
towed away in small oaken boxes with
leavy iron handles and placed in the vaults
# the assay Office, where there is just at
PRESENT something like $22,O0O,O00 in re-
med gold.
The method of reshipping gold to Eng
and and the continent is practically the
anne. The demand is made upon the sub-
reasury and an order is issued from the
for the amount of fine gold
'ars. This is taken in next door, presented
nd treasure handed out and oarted away.
IS n this way that the jewellers are sup
-