$1M worth U.S. gold ‘missing’
NZPA-Reuter Washington More than SUSIM in Government-owned gold is missing from the United States Assay Office in New York, the Treasury Department has announced.
But the department could not be sure whether the loss was a result of theft, inadequate records, or losses during the normal melting and refining process.
A Treasury spokesman said 5200 troy ounces ofgold. worth about SUSI.IM. seemed to have disappeared between 1973 and 1977. He said that about half of the last gold might have vanished tn the normal melting and refining processes of the Assav Qffice. But the Deputy Secretary of the Treasury (Mr
Robert Carswell), who reported his findings in a letter to Senator William Proximire, said: "We cannot eliminate the possibility that theft may have accounted for acme part of the loss.’’
A spokesman said the Secret Service was looking into the matter. Mr Carswell also said there had been "significant irregularities in accounting and management procedures” at the Assay Office which led to "an unrecognised gold loss.” Last summer a guard at the Assay Office caught an employee trying to leave with an undisclosed amount of gold hidden on him.
The New York Assay Office, part of the Bureau of Mint, is near Wall Street and contains SUSiO billion worth of gold and silver bars.
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Press, 22 December 1978, Page 4
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219$1M worth U.S. gold ‘missing’ Press, 22 December 1978, Page 4
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