Los Angeles herald., 1906-08-09
SAFETY VAULTS
HERE ARE SAFE
CHICAGO RlFLING COULD NOT
BE REPEATED
Los Angeles Bankers Tell Of Perfect
System That Prevails, Maxi
ing Lootlng Practically
Impossible

The failure of the Milwaukee Avenue
State bank of Chicago has created
much discussion in local banking
circles.
The disappearance Of the funds, the
flight of officers to Canada and the
arrest of Vice President Paul o. STEMS
land were all subjects for comment,
but the fact which puzzled local bank
ers most Ras the reported rifling of
the safety deposit boxes owned and
rented by the bank
The looting of banks in various
forms has not been uncommon in the
past, but heretofore it has been
thought that safety deposit boxes con-
tanning jewelry. silver and other valu-
ables belonging to renters of the
boxes were beyond the hands of any
save the owners.
To discover the safety deposit boxes
in a rifed condition is new feature
of bank looting, and bankers all over
the country have been surprised
Officials in some of the leading bank
ing concerns declare that no such loot
ing of safety boxes could possibly oc-
cur in Los Angeles and give many rea-
sons for this opinion.
only With Locksr1ith
Il cannot understand the situation
in Chicago" said H. S. Mckee, vice
president of the Los Angeles Trust
company.
Il cannot see how 1t would be pos
sible for anything of the kind to occur
in bank such as this. We have the
double key system here. and every per-
son renting a box is given a key. We
retain the other one. We have almost
three thousand boxes. and not one of
these could be opened without the COM
bination keys. There is a watchman
at the door and an attendant. At $50
the vault is closed with a time lock,
and this is wound and checked UP by
two officers of the bank Exactly at
o'clock the next morning the vault
opens.
IF key is lost the only way to get
the box open is to have a locksmith
break 1t open. This is always done in
the presence of the lessee of the box"
Impossible Here
]. S. Sartori. president of the Sc
curity Savings bank, explained the
workings of the safe deposit vault in
that banking institution.
1T Is simply preposterous to sup
pose for a moment that any one, officer
or employe of the bank, could possibly
open any of the safety boxes. We ex-
perience the utmost difficulty when
ever, as is quite often the case, the
renter of a box loses a key.
"a state of affairs such as exists in
Chicago would be impossible in Los
Angeles banks"
Would Require Tools
T. E. Newlin, vice president of the
Farmers and Merchants bank, said
that it would require full set of lock-
smiths tools to be able to secure en-
trance into one of the boxes belonging
fn No, nd ke
Miss c. B. Wise. who has been in
charge of the safety vault of the bank
ever since the vault was opened ten
years ago, has a checking system
which makes it possible to keep a rec
ord of the name of every person who
goes into the vault and the hour of
the day at which he or she enters.
mot even an officer of the bank
could go through that door without
writing his name. and as for any one
being able to get into box belonging
to any one else, that is impossible.
Tried In Vain
Three people were kept busy for
three months testing the keys in the
boxes. and in three months they were
not able to. open box without the two
keys which were intended for that par
ticular box.
Every visitor to the bank, as we'll
as every depositor, must show a slip
before he or she will be allowed to
enter the vault. and once inside that
one is really no nearer the treasures in
the boxes.
IF three men could not open one
box in three months, we feel reason
ably sure that anything deposited here
is safe"
officials of the Merchants Trust COM
pany express the same faith in the
security of their boxes. and all are
unanimous that the conditions in Los
Angeles banks generally are good.