Arizona republican., 1909-07-22

high grade bonds, whose market value is considerably in excess of their par value. SO there is need for care. It is supported by heavy steel beams which span the main corridor, with their ends resting on granite walls that are foul feet thick. It stands in a large room. known as the security room,' with an open space four feet wide all around and above it. The vault itself is 24 feet long, 19 feet wide, nearly F feet high, anr has walls 15 inches thick It is entered through great double doors, each of which weighs over tons. The combination on these doors are so arranged that it requires three men. one of whom must be an executive officer of the society. to open them. No one man, not even the president is allowed 70 enter the vault alone: there must always b." three, and one of them must be an officer. No securities can be taken from the vault, even to be counted on one of the quarterly examinations or for the routine process of coupon clip ping. except on an order signed by one of the executive officers aIid their re- moval and restoration must be wit messed by another officers.
 The bonds are kept in separate safes, with which the interior of the vault is lined, and these can be open ed only by an officer When the bonds are taken out for the clipping of cou- pons they are deposited on long tables directly in front of the vault, where the sections which call for the quart erly or semi annual interest are cut off In return for these little bits of. paper the Equitable received moro than $10.000. 900 last year. The greater part of the interest Is paid in January and July but there are some coupons falling due every month. In tn" old days the coupons were clipped just in advance of the payment date, but un-- der the new management all )f the coupons that fall due during the year are cut off as soon as tile January rush is over. The bonds and coupons arc then locked up separately and the boxes are sealed. The bonds are not touched again until the next year. As the coupons fall due they are with drawn from tho safes and placed with trust company for collection.
 Notwithstanding their great weight the vault doors can be swung open or shut by a child. The. are equipped with time locks-thrcc locks being used so that if one or two should fail the third will permit the opening of the vault-and are so constructed that in case of fire thc. would be hcrmeti- callv sealed The fir so closely that there are no cracks in which even a liquid explosive could be introduced, ard the.- can not be opened or closed without sounding an alarm. The se- curity room is surrounded with steel bars. likc a 0risOn, and guarded by a special policeman. who allows no one to enter except those who are regular ly employed in that department or an officer of the society. In addition to these safeguards there are little cleo tric buttons hidden away in and around the security room which are to be pressed only in the highly improb able event oe ar attack on the vault by a mob during a riot. The first pressure on one of the buttons sum
 mons the police and calls and organ
 iZed force of clerks. who at once arm themselves from small arsenals in diff ferent parts of the building and run to the security room. A second alarm cuts of fall communications with the