STOREHOUSE OF GOLD.

Manawatu Standard, Volume LVI, Issue 47, 24 January 1936, Page 10

STOREHOUSE OF GOLD.

BANK OF ENGLAND VAULTS. SECRET OPERATIONS IN HAND. Sixty feet below tlie level of the busiest streets of the city of London are the world’s safest strong rooms. They house, or will house, all the gold of the Bank of England—more than £150,000,000. .Vaults which have cost £6,000,000 can be flooded for security against invasion, fire, riot or bombardment. And two men hold the secrets of these vaults. They alone hold the only two electrical switch keys which operate the flood gates that surround the vaxdts. The work has been proceeding steadily for 10 years; it will be nearly five more years before it is finished. It is. the biggest, most secret and most expensive operation ever undertaken in the city of London. More than £20,000,000 is being spent on this work to convert the building in Theadneedle Street into the world’s safest bullion fort. ROLL CALL OF WORKMEN. An average of 750 picked workmen are continuously working. Each one has instructions to carry on steadily. There time schedules. Time is no object. No hammer blows must be heard during the day time. Noisy work begins at 7 p.m. and ceases at 7 a.m. The Bank of England will be the first important building in London with all-welded steel girders. This part of the contract will cost £130,000. Dr. Oscar Faber, the bank’s consulting engineer, has chosen this system of framework because it has greater rigidity and eliminates deafening noise that would be caused by riveting. Each welder, when this system was adopted, had to submit samples of his work, which were subjected to severe destruction tests before work was allowed to start.

Twice a da-p at 7 a.m. and 7 p.m., workmen are admitted to the bank premises and subjected to a roll call and scrutiny, carried out by bank officials. Then they are conducted to their working places in different parts of the building. Once inside, no night shift man can leave until the day shift comes in, 12 hours later. Every workman is warned to keep to his work and not to wander about.

CHANGING THE COUNTERSIGN. Additional material cannot be obtained without the consent of the general foreman. He is the only one, other than the bank officials and guards, who knows the countersign. And this is changed every evening. Only one hour is allowed for bringing in all necessary equipment for the night’s work. It is impossible to leave the building during this time because pre-ar-ranged code locks, which open at set times, control the main gates of the bank.

Throughout the night the premises are guarded by firemen, watchmen, soldiers and plain-clothed detectives, whose duties are arranged so as to create a continual guard, and the roof is patrolled by armed guards from 7 p.m. to 7 a.m. throughout the year. “The reason for all this precaution is not so much a matter of secrecy as one of discretion,” said an official. “We have to be careful.” This carelessness is extended even to the bank’s directors. Access to the vaults of concrete and armour plating cannot be gained by one director alone. Two must be present with their keys and codes before the massive steel doors can be opened. CONCRETE AND ARMOUR PLATE. The vaults, three floors below street level, range in size up to 20ft by 15ft. They have reinforced concrete walls 2ft thick with armour plating surrounding the inner walls and ceilings. They are surrounded by the waters of the subterranean river. They have been likened to an iceberg—more concealed than meets the eye, and surrounded by water. The great steel doors, weighing many tons, are closed electrically and &eal~the safes against air and water. The bank is almost self-supporting for all its water and electricity needs. During the next four or five years tlie bank’s superstructure will have taken shape. Walking through parts of it to-day is like walking through long wooden tunnels.