New-York tribune., 1897-01-30
,opD L. TAYLOR BROADW AY AND TwENTIETH-ST.

,.. l. .o,urra6 IN the Sub-Treasury. and the
teller in thai way. escape the oisaeiee
task OF running them over ana OF SUI ''"e -
handing them up in their denomnatiohai o''e'.
II is great convenience 10 him; out ne mus
he remarkably healthy to escape sudden oea'n
under the impulse Of tie petitions thae aS0e"A
for his immediate taking off. The silver COIN
received during the year amounted 10 Slooi'
75s and II was separated into 44OoOooo pieces
ana oocb niece had 10 be handled individually.
Money Is constantly passing in and out IL
comes in AT one side and is paid out at the
other in divers ways. During the year l''to'-
4O6 pension checks were paid, the amount oeins
$72OO0000
The most interesting department TO the lay
man and the one which is the most susses'''0
Of New-York's financial power IS that wherein
the coin OF minor value, such as pennies anu
nickels are counted Years ago belore 'h'
street railways and the elevated roads ana ths
great department stores and the ninety -Hi"eN
stores and the innocent stores had peeh eA'enN
ed and thickly spread about. the banks handled
currency and coin Of all denominations mas
criminately; but. especially after the elevated
a,d cab1a roads became so extensive In their
onerations CARRYING their hundreds or millions
NJ Messengers every year, some check had 70 Do
nu+ unon the tremendously increasing volume
Of small change which daily or every Two or
three days was thrown through the receiving
I teller's window at the bank. IL became a c'e'-
ical innpossibilityro 80 handle the stun ana IN au-
dtion to manipulate the larger concerns at 'he
same time and the banks properly reoeIen''
They could not provide for 1t in their vaults ie0
| alone attend to the counting Of ii, and so tney
| told their customers that. inasmucn as they
would have to send it 10 the Sub-Treasury hnahy
IN order 70 get storage room for il. It might
shA TTvcr n
The Treasury Department. realized the justice OF
! the bankers claim. and new department was
created which has grown until now there are
five men who do nothing but count pennies and
| 6ve-cent pieces from the opening till the close
| Of the Sub-Treasury every business day in the
wear How do they handle the coin? once or
twice week from the cashiers offlce OF the eie-
waited roads a wagon-load Of small money Is
taken in bags and dumped In at the receiving
| teller's window at the Pine-st end OF the Treas
ury Building. He gives a provisional receipt
for the quantity subject 10 the count OK the
clerks and the wagon is driven away. IheH
from the offices Of the street railway companies
other wagons appear carrying similar iOaos. .s
| which are thrown in in their turn, and the WORK
Of counting goes forever on. As the pies grow
| in the trays they have 10 be disposed OF, anu
! so the pennies placed in bags each one Q.
which is made to contain Slo lhlS dilivui. VI
coppers weighs exactly seven pounds. The nye-
| cent pieces are placed in bags containing sou
! each and the bag when full weighs eleven
| mounds The average reader may be led 10 in
I dure what becomes Of this vast quantity one
| of the big department stores viii send down Tor
| $4,000 in pennies. Offering bills or big denoin-
| ination in exchange. The receiving teller at
| the penny window IS also the paying teller.
and he hands out the penny bags, ana that par
| ticular store receives 1000 pounds IN pennies
| with which to make change with It's patrons ror
| articles Of odd valuation. These IN their turn
carry the change away The AeWsooys get hola
| OF a good proportion OF the pennies. Ihey pass
| back and forth in one way and anotner' and
| finally land more in the treasury or the
streetcar companies or the elevated roads ana
| 50 rotate their lives away III Greater New YORK
| People west OF the mountains are at loss 10
| know why il is that more pennies are not 70 be
had for the minor purposes OF business. This
| is the main reason. For the remaining coin,
81 900 In silver will weigh hfty-nine pounds;
the same amount in subsidiary silver will weigh
| ffty-fve pounds and $1,000 in gold Of any de-
| nomination will weigh just eighteen and hall
| pounds With this calculation the interested
| mathematician can work out propems or the
/ future along his own line OF reasoning
| The figures in mass 10 show the operations OF
sIr snr he year were Slss4 27l SO ST The totai
| business OF the Sub-Treasury was So..i2 169-
961 o. Some OF the leading items in the re-
cepts were: On account or customs SllV 9os-
$50 SO. disbursing officers, SID, $4,000 ~ AS
saw Ofice on account Of the sale OF gold bullion.
which was disposed of to jewellers and arthcers
in the precious metal and tor export @ 80 ,.,d IL
| bond sales S65 696 6s5 50. transfers from de-
positary banks $252. .69l 1903 "a. postal funds.
| Sl1 693 1913 20: new money from the Treasury
| Department and nnnts. S99.5O6.JO0. Some OF
! the leading items in disbursements We're Treas
| urv proper $3.50 1s3 Col %; old currency sent
| 10 Washington. $3.50 2i00oo; redemption ac-
| counts Si2l 1861 II; interest on bonds.
| s21 5l2 342 %; money TO other offices, SUI
| 3rO. Postoffice Department. Sll .i263lI 81. OF
the payments cited above sos, i6OoO passed
through the New-YOrk Clearing House, mostly
in exchange and this explains the reason why
the Sub-Treasury Of New-York IS 4 member OF
that great financial stronghold
All OF the labor falling within the walls OF the
o'd Greek temple Wall-st is cared for in
| ADEQUATE manner by force of l20 busy men.
| This mum Der includes Assistant Treasurer c. y.
Jordan Deputy Assistant Treasurer and Cashier
| n + Muhleman and the watchmen within the
| gates The department chiefs are: Assistant
| cashier and chief clerk. George w. Marlor; as
| sistant cashier and vault clerk. Edw. w.
| Hale: chief OF the check paying department.
| F Kahn: chief paying teller. 5 b. Terry; chief
| receiving department. w Colgate chief Of
| the coin division. Philip u. Gulager: chief OF the
| minor coin department. Robert c Han. chief book
| keeper l. l.. Scovel chief OF the check division.
| George w Yates; chief of the bond division.
| c NJ Wiley: superintendent OF building. F.
| Rottger The building wherein the treasury iS
| stationed is historic and presents an appearance
| Al once Impressive and interesting TO degree.
| In front OF II stands the heroic statue OF Gem
| eraI Washington and adjoining II Is the Gov.