New-York tribune., 1921-04-02
u. >. Assay Office
Acts to Keep Out
Bolshevik Gold
May Demand Affidavit From
c"nsignees Before Accept
ing Shipments; Believe
Flow Here May Be Halted

Hints that part of +,. ,..
amounts OF French and British rold
coming to New York in one 30 ne
heaviest gold import movement, in
years may be Of Russian Soviet ORIGIN
have caused the New York Ax..v ~.
nee TO seek an official ruling on
whether it shall continue to accent tho
shipments from London and Paris
without question or ask for declara.
tion of ownership with an affidavit
that the metal is Of other origin than
Russian. To this end the ]oca, A.sav
once has inquired Of the Director ~
MINT at Washington and the Treasury
Department to learn what nolicv TO
follow and an early decision is ex-
pectcd.
The possibility Of an official halt;nc
OF the gold import movement from
London and Paris was suggested yes
terday IN banking quarters, where it
was asserted that consignees here
would not be in q position to swear to
tnc origin Of the metal coming from
tnose countries in the event that the
ulrector OF the Mint should require
WIS uc presented WITH the
gold rendered to the Assay Office.
Gold of Russian Boshevik origin has
been taboo at the Assay Office for
sometime past and in the case of metal
Coming from Scandinavian countries
without the mark Of the Roya Swedish
MINT, consignees on turning it in to
the Assay Office are compelled to sub
NIT an affidavit to the effect that the
gold is not of Russian Bo]shcvik ori-
gin The affidavit form that must be
filled out follows:
The undersigned owner of lot of
gold for the purpose Of inducing the
United States to purchase said gold
delivered TO the United States Assay
Office, does hereby present and war
rant that said gold is nst Of Boshcvik
origin and has never been in the pos
session of the so-called Bolshevik gov
ernment of Russia. Tho undersigned ID
further represents that it is acting on
its own behalf, and not for the account
OF another. in Offering said gold for
sale to the United States. and does for
ever warrant to the United States,
without any qualification or reserva
tion whatever, the title to said gold"
The gold that is being shipped to
this country from France and England
at the rate of upward of S10,000.0OO a
week does not bear any distinguishing
stamp other than the mark of the pri-
vste assaying firms which refine the
metal for the French and British banks
At present it is accepted at the Assay
Office from the consignees, usually
local banks, without question. The
London gold is supposed to be mainly
virgin metal produced in South Africa
and sold in the open market. The gold
coming from Paris is handled at this
end by a banking house shat in the
past has acted for the Bank Of France
The possibility of some of this gold
bearing the stamp of private assayine
firms in London and Paris being of
Russian origin is admitted in banking
circles here, and it was asserted yes
terday that if an affidavit is required
of the American consignees on these
shipments the banks will likely refuse
to accept it, which would result in stop
ping the import movement until some
other arrangement could be made. A
way out, it was suggested, would be for
the Bank Of England and the Bank of
France to guarantee the origin and
ownership Of the gold.
The Adriatic, in from England yes
terday. brought in her cargo S1,100,000
in gold consigned to the National City
Bank and S250.Oo0 for Kuhn, Loeb &
Co. The Aqu,tania, sailing to-day from
the other side, is bringing an addi-
tional s3,5oO,000 in metal from London
Tor the National City Bank.