St. Paul daily globe., 1895-11-17

Nassau streets, just a block from
where the wild tide of speculation
surges to and fro in Wall street and
right in the heart of the banking dis
trict. The new clearing house Is only
one block farther away from Wall
street on Cedar street. 1ne building
is not a skyscraper, as is nearly every
new building in that part of the city.
1t has only three stories, but these
are of palatial highth, the first being
20 fest, the second % and the third 20.
Besides this there is a dome rising ~
feet above all, making the total height
about 100 feet. This dome forms the
ceiling for the big exchange hall, CIV
ing plenty of light for the clerks to
work by. Under 1t is a hall eighty
feet in length. In this hall will be
room for 100 desks.
The administrative offices of the
Clearing House association are on the
second floor. AS these are for the use
of the bank presidents they will be tur-
nished in most luxurious style. IN Iact,
there has been no attempt to economlze
even going to indulge in the luxury of
light rooms. They have had their
building built as none has been con-
structed in this section Of the city for
many years with a space on each side
separating it from the next building.
Their only tenant, a bank, WILL occupy
the first floor.
But the chief feature of the new
clearing house is to be its strong box.
Deep down under the sidewalk has
been constructed a vault which is
probably the safest place in which to
keep money that the ingenuity OF man
has ever devised.
In this vault will be stored some
thing like 200 tons of gold, or enough
of the precious metal to build a good
sized house, if it were made into bricks
This gold will be deposited by the as
sociate banks, and clearing house GER
tificates to the amount of $4,000 each
will be issued against 1T.
These certificates are used simply Tor
the sake of convenience. When bank
wants to pay another bank S4,O00,0 0W or
count out 1900 dollar bills. At present
the clearing house stores it's gold in the
vaults of the subtreasury, which is
just across the street.
VAULT TO HOLD TONS OF GOLD.
When the new vault is occupied, the
gold will be even safer than 1t Is now.
It is virtually a strong box suspended
in mid-air, for it is supported by brick
piers underneath, and the other sides
of the cube are wholly exposed. More
than this, it is surrounded by moat
several feet wide, which in turn is pro-
Dy u lellCS VI CdSS pullI VI 5 Crae
The walls of the stfong box itself are
built of layers of soft iron and chrome
steel. This latter is hardened to such
degree that a diamond hardly scratch
es it. The whole box is set on a floor
of steel rails which forms the bed OF
the island.
There is complicated system of time
locks which control the big vault
doors. Then there will be watchmen
who will have all sides of the big box.
including the top and bottom, constant
ly under their eyes. He would be an
enthusiastic burglar indeed who would
attempt to get at the shining millions
which are thus guarded.
But not against burglars alone have
all these precautions been taken. 1t
was with the possible assaults of an
armed mob in view that this strong
hold was designed. The makers say
that it would even be difficult to get
into the vault with dynamite once the
big doors were locked.
Not even the bank presidents Them
selves are trusted. to go at will into
these rooms where l00,0O0,OUO AN gold
coin are stored.
Not a dollar of gold can be got into
the inner vaults or out of them with
outt tthere being two separate sets OF
officials present The officers OF the
helpless in getting at the money under
their care as a rank outsider. They
will have the combinations to the outer
doors, keys to the closets in the vestt-
bufes and one key to each of the sew
enty treasure closets in each OF the
vaults, but the combinations OF the
| locks of the inner doors and key to
| a. second lock on each treasure closet
| will be the secret and property OF the
members of the bank committee of the
| united banks.
! When the tons of gold begin to ar
| rive to GO into the vaults, the clearance
| house officers will receive it at the ele-
vator. count and weigh it at the count
| ing table. and when it is ready to put
a.Way send for the banking committee.
| When the bank committee arrives the
doors will be opened and the goio put
! in. The same process Will be repeated
| when any gold goes out:
Thus it will be seen that an 1mpecu-
NOUS bank president. would nave no
opportunity to sneak into the clearing
| house vault after hours and pocket a
few bags of gold. Some people mlght
think the fact that a bag OF Solo
eagles containing $15O,0OO weighs ABOUT
| 1S5 pounds would be sufficient check
| on avaricious bankers, but 1t IS evil
dent that they do not trust each otner
even under those conditions. =
No doubt the new clearing house is
| one of the most splendid buildings OF
| the kind in the world. 1t has the SAT-
est strong box that was ever oullt,
| and II transacts business OF greater
magnitude than any other Institution
in any country on the face of the globe.