The Washington times., 1912-01-11
VOLUNTEERS risk
LIVES TO SALVAGE
BURIED MILLIONS
Army Of $50 Men Work Be
meath Tottering Walls of
Equitable Building.


NEW YORK, Jan. 1.-two hundred
and nfty desperate men. warned in ad-
vance that their lives would be in con-
stant danger. today accepted the tempt
ing wages offered and entered the
skeleton OF the Equitable Life build
Ing in an effort to shore UP the totter-
ing walls and clear path toward the
immense vaults that contain 1000, 900 000
In securities.
The vaults Of william A. Reed,
banker, at Cedar and Nassau streets,
were opened early today. Their contents
ware found to be intact. and $4,000, ,00O
In money affd securities were taken out
and removed to safe quarters.
Wall Street, totally staggered by its
inability to use the fabulous sum which
Is still buried in the daily routine Of it's
business. admitted today that a fire for
the frst time In the history Of the New
York Stock Exchange has practically
paralyzed the greatest financial center
, In the world.
Spontaneous Combustion Feared.
Vault experts declared today that. no
matter II the quivering walls held firm
: en0 tH6 WrcCkeTb HldndSeu " Ciedf
q way to the buried vaults. 1t would
be several weeks before 1t would be
rafe to open them because of the dan
ger OF spontaneous combustion. This APP
plies to the vaults Of the Mercantile
Safe Deposit Company, the largest con-
Germ Of It's kind in the world. in which
are believed to be securities to the
value Of 8, $50. 100000 and the vaults of
ant-
many millions in securities and money.
The vaults of the August Belmont
banking firm. the Read Banking House
and the Equitable Trust Company may
be opened sooner. because they were
not subjected to the severe. heat. The
officials Of these latter firms declared
today, however. they would be Nsured
BY experts that all danger was past
before they would open their vaults
There is, Of course the ever-present
danger that the walls will topple over,
burying the vaults under thousands Of
tons Of bedris, which could only be
removed by weeks Of labor.
Would Dynamite Walls.
Only today fire and police and build
! Ing department officials were discuss
Ing the advisability Of calling of all
workers and dynamiting the walls, ty-
ing up the mammoth fortunes. but
safeguarding the lives of firemen, DO
Ncemen. and laborers.
Police today still refused to permit
tenants OF the tall American Exchange
National Bank, acress Cedar street
from the ruins. to enter their offices,
though the bank officials were permit
ted to clear their vaults of books and
money, so that business might be re-
sumed at temporary offices.
The walls on the Cedar street side of
the Equitable building had bulged to
i've foct today. and there was constant
danger that they would fall, burying the
Mercantile vaults. The falling of these
walls. experts said. would greatly en-
danger their contents. The shock and
vibration they feared. would crack the
big chimney vaults. permitting an in.
rush OF the super-heated air that would
char and burn the securities contained
there. While these securities could be
duplicated. 1t would be after endless
advertising and. trouble. occupying a
year. during which time the delivery Of
STOCKS and bonds on the Stock Ex-
change would be seriously crippled.
Wreckers Are Warned.
The wreckers who entered the build
Ing today did so only after each had
been warned that his life was in con-
stant danger Despite this warning the
alluring wage offered drew an army of
volunteers. Several aplbulances were
summoned by the police and kept wait
ing. The workers are trying to clear
q passageway to the vaults and to find
the body Of Battalion Chief William X.
Walsh, which is believed to be buried
on the fourth floor. No effort will be
body of William Campeon. a special
policeman, which Is encased in a forty-
root iceberg near the front Of the
Books and records of the EQUITABLE
Trust Company kept in safes have been
saivaged, but no efforts will be made to
enter the vaults of this concern until
Life DECLARED today an examination had
shown that the steel filing cases which
contained $4,000 policies, and on which
the company had loaned policy holders
more than To.OO,OOo. had escaped In
Subway officials expressed great fear
today that II the front walls Of the
burned building collapse. they viii
crush through Broadway into the sub
way beneath. Building inspectors are
examining the structure and II the dan
ger Is grave, subway connections in
that vicinity will be halted.
Gas Explosion Feared.
Fear also is felt today that escaping
gas may explode and cause severe dam
age. Hundreds Of gas pipes throughout
the entire building have been broken.
There was great suffering today
among the 900 firemcn and policemen.
who have been on duty many hours.
An estimate shows that 1t has cost
the city sf0o, 900 In wages and smashed
as*x. nm W-uf fruS a 20. afht h. A.
Bear spectators who sought to raid
the stock market because of the in
ability of sellers to deliver stocks which
are tied up in the vaults. have been
stalled by the stock exchanges action
.n suspending the deliveries. The bears,
knowing they could not be called upon.
under the rule, to deliver securities,
sold short.
ately changed its rule to read that de-
lKeries need not be made by parties
directly or indirectly affected by the
fire." This stopped the bear raid, COM
peliing them to buy stocks In the open