The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-10-24

that owing 20 his position IN the bank Mr..
Alvord was able 10 obtain tips which en-
ahled him 10 make sl00 COZ 20 5000 a year
over his salary by operating IN Wall
street. She Is said 10 have boasted that
her husbands tins were so straight that
be never lost cent iu the street and
always made a gain
The Firs. National Bank s considered
one OF the strong financial institutions Of
the city. George r Baker lts president,
IS also president Of the clearing house
William y. Reed is the cashier. The al
rectors are George r. Baker. Fisher a.
Baker. William y Reed. Harry c. Fahne-
stock. William Fahnestock. r. L. Hino
and James A. Garland. The bank has a
capital Of $4,000.
The First National was the frs, TO or
sanize under the national bank act. ard
President Baker and his associates have
been In charge for hfteen years II was
founded by Jacob Thompson. who was
publisher Of the Bank Note Detector..
Was Complete surprise.
Alvord was capable and experienced
and the discovery OF his defalcations made
af'er he was gone. was "a complete sur
prise 20 everybody The loss OF money
is hardly disturbing the bank which r.
one Of the strongest in the city.
Alvord Is about 80 years old ana has
wife and three children. His home was az
nd he 81
as well as in the street. His habits were
good. II is believed that he lost money
In stock sDeculations and that some OF
the money can be recovered lie dsap-
peared about a week or ten days ago.
The crime has been known long enough
10 the officers now 10 enable them 10 say
with some assurance that Alvord did his
work alone. No one else Is under suspic-
lon
A statement made hy the hank on Sept.
showed Capital $1,000. surplus $500
90. undivided profits A.ii42-0. deposits
$50 .Ss5. demand loans and cash on hand
s25.37s.276; time loans S5G5i.ol0. and stocks
and bonds. S9O.IO 90.
In the statement the banks total re-
sources were placed at S2o632si
officials Would Not Talk.
Beyond the facts contained In the ofi-
cial statement the banks VIE president
Frank L. Hire. absolutely refused TO say
a word. President George r. Baker.
when asked regarding the matter. said
that the statement given out 10y ,he vice
president contained all he had to say in
regard to the dcfalcation. when asked If
Alvord had been apprehended the vice
president said:
Il don't think he has"
A. the local Office OF the detective agen-
cy which usually has charge of bank cases
IL was said that officials Of that company
had heard nothing OF the defalcation as
yet. and that they had not at that time
been Unsigned 90 the case. The First Ma
tlcoal Bank Is member Of the National
Bankers Association.
some of the Money Found.
Fisher A. Baker. attorney for the First
National Bank said tonight
we have lo0ntcd about $1,000 worth
OF securities and real estate In Alvori's
name and shall attach il Immediately /
think this will bring the loss Of the bank
down to close 70 $4,000 We are trying
to locate A.vord with detectives"
Presiden, Baker said.
cation. for OF course. We had the great
est confidence in Alvord. He had been
with us twenty years. and We regarded
him as absolutely trustworthy We knew
that ne lived part OF the time IN Saratoga
last summer but did not know then Of his
gambling or that his cxtravagant way Of
living had attracted general attention
there.
I'VE understood that no had made
money and supposed he was able 20 lie
in good style, what his salary was I d.
not care 10 state. but It was generous
one ample 10 afford him the luxuries Of
life"
An official connected with the hank who
dld not wish his name used sald
a proof that the hank - not likely to
suffer by the defalcation is that its proats
for the year ending last Sept. !. were 81
go. COO This surplus IS Increasing fast.
The par value OF the stock Is 500 share.
but Il has brought as high as N.9-3 At
auction. The book value Of rs stock Is
s. i05 per share. and as high as $500 has
been bid. The percentage OF Increase 10
capital. according TO its las, years earn
ings is 27o.l2 per ceS
1T has for several years paid annual
dividends OF iOO per cent only one other
bank in this city declared dividends ag-
gregating 80 per cent. The First Ma
tlonai Bank holds in stocks, bonds and
other securities. according 10 its lates;
reports s2i073.go."
JOHNSON STILL On STAND.
r:xpert TeStifyinE About Vouchers.