The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1908-01-01
BUYING GOLD ABROAD
Methods Employed In Its Pur-
chase and Shipment.
NOT A COMPLEX TRANSACTION
'fhe Simple System by Which Foreign
Bullion or Coin Arriving by Ship In
New York Is Turned Into American
Money-The Loss by Abrasion.

Bullion or Coin Arriving by Ship In
New York is Turned Into American
Money-The Loss by Abrasion.
Buying $10o0o000 worth Of gold
from the Bank of England. says the
cashier of the subtreasury in New
York, Is no more complex trans
action than buying piece Of real
estate Whatever difference there Is
In the two is In favor of the gold pur-
chase. In 1t you are pretty sure to get
the value Of your money.
Much of the gold bought by the large
banking houses of New York and other
American cities is purchased from the
Bank of England or the Bank of
France Its purchase Is arranged for
by the English or French agents Of the
bank that wishes to secure the gold.
The price that Will have to be paid de-
ponds largely upon the demand. In
panic times, when every dollar OF gold
that can be secured Is being eagerly
sought by bankers here, the price IL rs
high as and per cent
The shipment of the gold is accom-
panied by comparatively few extra
precautions An extra detective or
two from Scotland Yard. perhaps. and
MS many other private detectives en-
ployed by the Bank of England fur
uish all the protection needed.
All gold imported into this country
comes in one of two forms. 1t is either
in gold bars or In coin. II In coin 1t Is
usually American money that has been
sent abroad In some previous year. for
a comparatively small amount of for
eign gold coin Is brought here. Whether
In bar or coin, however, 1t is all ship
ped In small steel cases, The bars are
of an exact length, so as to permit
them being packed tightly in the cases,
while the coins are In bags, irrespec-
tive Of denomination. that hold just
900 ounces.
The arrival of gold laden ship ut
her pier In the North river is no DIFF
ferent, so far as precautions for the
gold itself are concerned, from that Of
any other vessel. There are always
government officials, city police and
- a. ,.rt,..,I - j. -, ,.,,4,, sto ooo
600 In gold aboard will result In no
more than one or two extra men being
present to ride on the wagons carrying
tho ,,o,a ou,oy ,ror, IN, ,,I.r
r,,e sto,,i h.vas ,,,,t,, th.,,. ,,,oo,o,o
o,,ta,,. H., ... ,ar,od ao,,,n
,ron, ~, s,ht,, ~ Tho ,,.hor,s ,,ioht
,ro,,, ,bo,. o,rooro ,co oont,i, onlv or.
binary roarchand,so ~ opv unusual,
nraoant,ons ho toLon howayor n Ia
dnrIng Tho brof mom.nts tbot tho
hoxo, ,y,u, tho,r miII,on. mr.. ,y,ng on
tho n,or yyatt,n. 10 he ,,ftod into tho
wayona md cortcd owav Tbon tbov
aro wotcbed nv n Good MANY noir. or
oya. ana not y strangor ,a ol,owad IN
onnrooch opy,ybore neor ,bem
,rho eno, oet a, tho ,,,rchoso ,e cold
d,fyers Il, t,n,es ~ no,,c and at ordi.
norr t,nos Ia tive. ~ n,n,c nhen
,ha ,ooass,,,, Far cold 10 90 oroot th.t
a,,ar,, ,,n,,,e,,, l., ,,roc,o,s ,,s-roo, ,o,-
ma ~ ra,,av,no .,t,otion coros or,v
,,,han - 10 ~ h,,,h on Tho oo,ntor.
80 ~ ri. III .r,,.t no,,,,.n,o.
o,,ott,n,, ,,,a 5,n,nn,s 90 ,,o oraa,to,.
80 .,ea. ,.,.,,,,,,,nn',
nv, - 80, 49,. .,',., T., ,..,, ..
No.. =, ~. -. en- pnror. "nv
- ~ Wv. y. ss, =. 49,, -.
".' ,i ~, 70 ~. w. 80 ~ ~ ~ n. US
,'"'" 10 ~ - 80. ~ - ~, -,
-. -. 40 w.. aa,', 20 a.. ,,,,'a .,,,r
'''s ', ~ " ~. ~ -, ~ NY
Pos'u W po eo"'"''eu =. ' nv, D"s, 10y
-, ,,. 70" " ~
.no''"',s' anu 'ne '.''s W W.
'niee u's 20 nee.es",! " MANI .on
pie'e assa' ., .',c sn'p'he"' 70 ",o'o."'
"na'eNe' "uo''io""' sun 10 u'o '.e
P"'s"ase' "i,e' 'ne "ss"se' 'epo'' IN
i"aue nc 'eee'Nes III u's VI wv
MUCH tue Sa'he PROCESS 10 i"r as OK
Peotehcy ~ eoheerheu Is gone through
Win the soid COINS lhey' ihs.eau Oh
gong 10 'he ASSAY once 80 oirect 10
the suotreasuty. Each Dag IN weisheu
Unopened ana II ROUND 10 UP tue