Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1893-09-21
PUTS MILLIONS IN KEGS.
He HANDLES ALL THE GOLD COIN
SHIPPED ABROAD.

A New York Cooper Who Has Packc'
up Endless Fortmmes-HisM Modest shol
and Golden Opportunities = He /
Trusted by all the Bankers.
There is one good American citizen il
New York whose heart grows glad eacl
time there is a considerable export o
gold from this country. This man is
cooper who is paid for barreling up
the gold coin which is sent away By
American bankers SO that exchanges may
be made in foreign countries. This MAJ
is Mr.. James Shay, and he handles oil
oversees the handling of every ounce Of
gold coin which is shipped from the
United States.
| Mr.. Shay has been a cooper for thirty
six years. His shop is at No. IS Fletcher
street, small alley running from Water
street towards the East river parallel
with Maiden Lane.
The ground floor is used for making
the barrels, and the second floor for stor-
ing them. In the back part of the single
room on the ground floor there is huge
brick fireplace, which is used for heating
and warping the barrel-staves.
Whenever a banker has determined to
make an export Of gold to Europe the
first thing that occurs to his mind is MIR.
Shay, just as a person about to go out in
the rain would think of an umbrella. In
other words, Mr.. Shay is a necessary pre-
liminary to the sending of gold abroad
There are doubtless other persons who
could make strong casks and could handle
the gold that is to go in them as rapidly
and as honestly, but they haven't got the
prestige that Mr.. Shay has. He has been
doing this work so long that it is gem
orally regarded by the bankers az this
city as his prerogative.
Gold is packed for shipping in either
kegs or boxes, according TO he fancy of
the banker who sends it. For very large
amounts, such as several millions, kegs
are generally used Mr.. Shay makes or
deals in both. The kegs are apparently
the more convenient. as they are much
easier to handle. Each keg holds $50 900,
put up in ten bags containing IS 600 each.
The keg weighs when empty between
eight and nine pounds, SO that when
loaded and sealed ready for shipping you
may readily calculate it will weigh in the
neigh borhood 81 200 pounds. This is a
very desirable weight from the ship
pers point of view. No one, not even
Sandow, the strong man, is liable to pick
up 200 pounds in keg form and make of
with it so fast that be cannot be over
taken BY a man OF fairly good sprinting
powers. The boxes contain $4,000 in
gold, put up ia five bags OF 5000 each.
These boxes and kegs are so aicely adj
justed TO the bulk OF material which they
are 10 contain that, when properly
packed, there is not the slightest fric-
tion of the metal. Here is where the
value of Mr.. Shay's services are most APP
For various reasons he does not
wish to have the dimensions OF these
boxes and kegs published. but even If
[ hey were known it is not likely that
any one could pack the gold in them as
neatly as he does.
A keg that will hold $50, 900 in gold coin
is about as large as an ordinary powder
keg; that is, about foot and a half in
height and foot in diameter. Mr..
shay's kegs are made OF the best white |
metal bands. Two small pieces OF pink |
tape are stretched across one OF the |
heads. To these pieces of tape the |
bankers seal is affixed when the key is
ready for shipping. The other head is |
held in place by a few nails until the 1
xeg is ready to be filed. After the keg
has been packed the head is replaced /
ind sealed in the same manner as the
1ther.
The boxes are sealed in different way, I
but just as effectively. The ones which
hold SIS, 900 are about foot long, eight I
inches wide and six inches deep. They |
ire made OF the best lockwood or bass |
wood, fitted together in dovetails which |
liant in different directions on opposite I
ides OF the box, thus greatly adding to
he rigidity of the construction. At each 4
md of the box two holes are bored in
opposite corners.
The amount of gold that Mr.. Shay has
,acked up In these little kegs and boxes
n his lifetime is so great that it cannot
,e readily reckoned. During 1892 he
towed away gold enough to buy thirty !
II forty blocks of brown stone houses on
fifth avenue. Surprising that he had
'een able during the period that he has
'een packing gold to substitute counter
cit in its place, and make off to Canada
r some other country, which is kindly
isposed towards wealthy criminals, he
'ould be possessed OF fortune so vast
hat he could not begin to take care of it,
nd would probably die from the very
urden of Ii within a few years. He has
acked up s6,000,000 in one day, and
bought nothIngo of it. Already this year
e has packed up enough millions to buy
ut several millIonsires in this city, and
hat during an Oft time Of the year, con-
dered from gold shipping standpoint.
When pushed, Mr.. Shay declares that
18th the assistance OF three or four men
e could pack up q, 900, 900 in twenty i've
linutes.
Mr.. Shay, in reply to the question
neither he did not feel an almost un-
desire to take to his heels
nd abscond each time he lifted one of
lose bags containing s25, 200, replied
1at such thought never entered his
cad, nor the heads of any OF his assist
ats.
"If thought they even dreamt OF such
thing" he said, 81 would discharge
lem Immediately. IN. Y. World.