The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-24
CASKS OF GOLD COINS
HOW THE PRECIOUS METAL Is
SHIPPED TO AND FROM EUROPE.
Steel Vaults with Three Keys, Each
Kept by n Different Man--Guards
with Revolvers in Their Pockets.
New York Press.

loses somewhat by the transaction in the
way of interest which he has to pay. The
European banks are also joyful because
they make money on the deal And what
is more to the point for them, they keep
the profit at home.
Several ships now on their way here,
each with rich cargoes of the precious
metal This fleet would have proven boz
nanza to the "rovers OF The seas but,
fortunately for the fleet, the low hulled,
rakish schooners" are now all bottled up
between the covers Of the penny dreadfuls.
Although the sight of the Jolly Roger
futtering from vessels masthead Is as
scarce nowadays the tabled whi.e black
bird, still great deal OF anxiety surrounds
shipments of specie. To consign slOOO,OO0
to the care of a steamer is / joke, en- to
the European Croesus. A broken shaft
pounds the bottom out OF the steamer and
the million is gone. An iceberg do tho
business quicker than scat. Still. this
country wants that gold, and it Is going 10
get It,
The tracing of cask of gold rom the
strong room of the European banker to the
subtreasury on Wall street. or vie versa,
is interesting. Enter the banking house of
j. p. Morgan & Co. just at the time prepa-
rations are being made to send, Say, $780,
900 to the Paris house of the firm. The Irst
tliiilS " NC OOU6 Is 10 get The gJiQ. Inc
house draws from It's banks the required
sum in bills, gold certificates, Treasury or
United States notes and sends the green
backs across the street to the subtreasury.
Usually 1T takes two men to 10 this one
carrying a bag in which the bills nave been
placed after being counted and lie other
following a few feet behind HIM as 4 guard.
Assistant United States Treasurer Jordan
Is first informed of the business upon which
the two men are engaged, and he makes a
memorandum of the sum they want. The
men then go to the receiving division. pay
hair %,at.
a receipt, subject to count" and are told
the time at which the gold will be ready
der they had left with Mr.. Jordan together
with a duplicate of the receipt for the
greenbacks, have travelled through several
divisions of the subj ,easury and finally
turned up in the gold vaults. There fifty
sacks of gold coin, each containing $4,000
have been counted out and placed in large
canvas pouches, ten sacks in each These
are carried one by one, to the offices of
the banker where each sack is carefully
Will accept our gold only by weight, not by
its face value. The subtreasury cannot. at
ford to make any mistakes, and the weight
or the ro'n is always found correct.
PREPARING FOR SHIPMENT.
Preparations for shipment next In
order. Ten sacks of gold are packed in a
casl, that looks for all the world like a
hertine: cask. The head and bottom Of this
piebeian receptacle are carefully sealed
The ten sacks fit in the cask 50 tightly that
the abrasion Of the coin in transit is
ininitesinal. Each cask weighs. when
really for shipment, $50 pounds. The five
aggregate 800 pounds. The casks are placed
In :. small covered wagon and two men sit
on top of them. They are always big,
broad shouldered fellows, and each carries
a revolver in his overcoat pocket. with
the driver sits a third guard. Without any
blhster. the driver whips up his horse. and
the gold starts on the first stage of its
journey to Europe.
Prior to the loading of the precious casks
process is the same as with cargo of
grain, the insurance companies looking upon
the yellow metal as simply SO much cargo
lpor. which certain percentage OF profit
can be reaped. The policy issued is the old
Ila:ine policy, and 1t is worded in the quaint
language of a hundred years ago. 1t insures
against perilS of the Seas, men of war,
fires, enemies, pirates, rovers, thieves. jetti-
sons, letters of mart and countermart, re-
and detainments of all kings, princes or
people of what nation, condition or quality
soever, barratry OF the master and marin
ers," etc. 1t is very generous in its pro-
visions, and covers pretty nearly every ill a
ship is heir to. The rate is unusually low.
1t was only one-tenth of per cent. yes
terday.
Many bankers do not insure their ship
ment of specie with any insurance company,
They set aside into sinking fund the pre-
MUM they would have paid into the treas
ury OF COMPANY con ana aI.Gf TINS mas Deen
usually long run Of bad luck to wipe out
the fund. The Rothschilds's sinking fund.
of money they have af1oat at any time
Canadian banks do much the same kind
of business. But the smaller houses find
it much more profitable to become associa-
ted with mutual insurance company. Their
premiums are thus partly refunded to them
as profits at the end of the year.
A STEEL TREASURE ROOM.
But to return to the treasure wagon which
was driven from the door of j. p. Morgan
e N banking on he rov ~
French lines pier. at the foot of Morton
street. The superintendent of the pier,
Charles G.. West, has been expecting the
consignment and has been on watch for il
for an hour. When the wagon is driven
under the pier shed Mr.. West, the chief
clerk, the delivery clerk. two watchmen
and policeman receive it. 1t is backed up
to a gangplank run out from the forward
end of the waiting steamer, and as each
cask is handed out to the representatives
it Is accurately noted and receipt is given
to j. F. Morgan & Co.'S men. This re-
ceipt IS as circumspect in its language as
that given by the treasury clerks. 1t states
that 1--WE casks, said to contain gold coin
were received by the Compagnie Generate
The treasure room in the French steam
ers is In the second hold, between the first
and second matches. 1t is a huge steel
large enough for one man to snueeze
through. ladder leads to the floor. a
closes the aperture. This cover which
forms a portion of the flooring of the
hold. has three locks. Each lock needs a
special key and each key is placed in the
keeping of different man The chief cfI,.
GER has one of the keys the officer Of the
deck another and the captain at arms the
third When the officer of the deck is re-
ieved he gives the key to the man who
relieves him. The chief officer and The
captain at arms keep theirs AS one or the
other or these two men is aiways on dntv
with one OF the officers of the deck two
OF the Keys are always on deck When tho
chief officer Is off duty his kew ia hing nr
q rack In a cabinet in his stateroom Tba
front or this cabinet is guarded Nv =
screen or heavy steel WIRE -
These three officers, having been Inform, -
thaJ tIle consignment of coin has arrived
go below and open the treasure vau,f Tba1
the casks arc placed in a canvas sling and
hoisted or board with derrick and lowered
aga;n Low cred into the specie room Tho
thfrc officers lock the three locks and then
merchandise of all sorts is slowed away in
the lold ov-.r the vaults cover When fine
vessel Is ready to sail it is impossible for tna
most enthusiastic burglar to get at the
specie room.
A Eress reporter asked Superintendent
West yefte,day for permission to see the
specie vault on La Gascogne.
mo- your life," was the reply 'sIn
the fest place, it would take three hours TO
got tic cargo out, and in the next place ii
Is asairSI TIRE. rules In all fha yaa re that T