Waterbury Democrat., 1900-10-24
GOT AWAY WITH s7oo.eeo
Note Teller of First National Bank
 of New York Missing.


 New York, Oct 24-Oficials of the First National bank yesterday after noon announced that their institution had been made the victim or one of tthe greatest acfalcations ever reported ill tue history nf banking. The aElount Will reach over $1oU,uUO, and Charles l.. Alyord, the note teller, and for years a trusted employe, is tne guilty man. Alvord lived in Mount Vernon unu has q wife and three chil- dfen there row, completely prosrratcd with inc news Of the affair. The man himself has fled, with two weeks start on the officials.
 On October 6 AIvord applied to President George |. Baker, of the bank, for leave of absence on nc- count of sickness. It was granted, and since that time he has been among the missing.
 The First National bank Is one of the, strongest institutions in the world and it's president, George r. Baker, is also the president of the Astor Nation al bank. The banking house is locat- ed at Wall street. William E. Reed is the cashier, and, besides these gen tlenlen, the directors are Fisher A. Baker. Harry c, Fahnestock. William Fahnestock. r. L. IIinc and James A. Garland. Capitalized at $500,0OO, the surplus and undivided earnings of the bank are twenty times that amount.
 Alvord had been employed at the bank for twenty years. and drew salary of very generous proportions. Since the dcfalcation the banks off cials have been looking Alvord up. and find that he has of late been flying very high. He was known to be good liver and fond of fast horses. but jt fhnlJpht hn o Iva 1iy-a,1 Iy-ifhir, his income. But bank officials were astounded at revelations Of detectives since his flight. He was Speculator in Wall street, and his losses were heavy. Besides that he was a heavy bettor at the racetrack. He was at Saratoga during the races this sum- mer and liberally threw away money. He had cottage. kept a stable of horses and lived in fine style. His expenditures reached $500 day. With him at the time, it is said. was young woman. who assisted him cheerfully i'll getting rid of the money. She, 1t is said. has not been seen in New York for several weeks. When Alvord was given leave of absence on his sickness excuse eX- perts were put at work on the books and the shortages discovered. The bank people knew of the matter late last week, but did not make any an nOuncemeEts. Instead. the case was put in the hands of the Pinkertons. and that agency has been unable as yet to find the man. The bank yes terday afternoon at the close of busi- ness at 3 o'clock made public the de- fclcation.
 Alvord's defalcation is the largest in bank history. It exceeds the amount stolen from the Phoenix National bang by $4OO0O0 and that from the bank of the Manhattan company by nearly S6oo,ooO. It is also in excess of the amount stolen from the National Shoe and Leather bank by Seeley by $35O.- GOO.
 Late last evening it was learned that the Pinkerton detectives believe | that Alvord sailed for Europe last Saturday and that they have cabled descriptions and instructions over | there and all steamers will be watch l ed
 Alvord was q man of fiftythree | years of age, of medium height. dark 1 haired mixed with gray. with a small | iron gray moustache. He was about one hundred and ffty-1ve pounds in 1 weight and a.very clear cut business | appearing man. While regarded as an extraordinary well dressed man at 1 all times. he was not at all oStentati- l ous in his attire and wore but little 1 jewclry. Dispatches from Syracuse last evening stated that Alvord was l nephew of the late Hon Thomas G. | Alvord. once lieutenant-govornor of the state, and the dean of the late consti- tutional convention. The latter was familiarity known as "Old Salt and was one of tEe oldest and most promi- nent men in Central New York. The l family is one of the highest standing | and known from one end of the state to the other.
 Alvord was very little known on
 Broadway and to the majority of the
 members of the Metropolitan Book | makers association. He was not a | freuuenter of the club houses of this | city, and very seldom appeared in I the city at night.
 His betting nt Saratoga this summer
 was confined to very few books. His | principal book was the enc controlled
 by Richard A. Canfield. the well
 known sporting man. His bets with
 him ranged from 5000 to S1.J0O on a | race. He was known to be q very
 wealthy man in the banking business | in Wall street, but in what bank it | was never discovered.
 He would approach a boo!-makel | with whom he had transactions, say
 simply '' will bet you S1,oo0.'' or as
 the case might be on such or such q
 horse and leave the ring. He settled | every Monday by check.