The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1900-10-26
BY TRUSTED OFFICER OF ONE OF NEW
Y0Rk'S LARGEST BANKS
NEARLY A MILLION DOLLARS
c. L. Alvord, Note Teller OF the First
National Bank, Disappears-His Ac-
counts Seven Hundred Thousand
Dollars Short-Stealin9 for Years.
Bank Examiners Bafned-Supposed to
Have Gone TO South Amerfca-The
Banks Immense Resources

is a defaufter to the amount Of 500, 900.
Alvord a not yet beer apprehended-
He had been an employe of the bank
for owe twenty years.
The First national bank is one of the
largest banking institutions in the city
and it's president is George F. Baker,
who is also president of the Astor ma
tional bank, and a financial adviser of
h AStor family. The bank is located
at No. 2 Wall street, and has a CAPT
tai of $500, 900, and a surplus of s., 000,-
600.
The bank gave out the following
statement late today:
The note teller, who has been in the
employ of n First national bank for
many years, is a defaulter to a large
mount. His operations have con-
have been skilfully concealed through
a manipulation of his balance book.
The discovery was made by one of the
banks employees a few days after the
completion of an examination of the
bank by the United States examiners.
NNN VI i1o PCOoio
tons, periodical examinations have
been made by several different corps
of examiners representing the comp
troller's department, all expert &C
countants, and the bank has also had
frequent Independent examinations;
none Of which a developed any ir-
Irregularities. The aggregate of the
false entries amounting to S70O,0 900 has
been charged off on the books of the
bank out of the reserve fund, without
diminishing the surplus and profits Of
the bank as reported in it's last pub
lished statement. 1t is expected that
the shortage will be materially re-
duced by a substantial sun of which
there is fair prospect of recovery"
Alvord was capable and experienced
and the discovery of his defalcations
made after he was gone, was a complete
surprise to everybody. The loss of
money is hardly disturbing the bank,
which is one of the strongest in the
city.
Alvord is about 80 years of age and
has a wife and three children. His
home was at Mt. Vernon and he was
respected there az we'll as in the
street. His habits were good. 1t is be-
lieved that he lost money in stock
speculations and that some of the
money can be recovered. He disap-
peared a week or ten days ago.
The crime has been known long
enough to the officers now to enable
them to say with some assurance that
Alvord did his work alone. No one
else is under suspicion.
A statement made by the bank on
September 5th showed the following:
Capital $500, 600, surplus $4,000, OOU; un-
divided profits S4,114, $50, deposits $780,
997, S95, demand loans and cash Oh hand
$23, 379, 276, time loans S. .654, 610, stocks
$40, ITO, 400. In the statement the banks
total were placed at $50, $685.
294.
official statement the banks vice pres
ident, Frank L. Hine, absolutely re-
fused to say a word.
President George L.. Baker, when
asked regarding the matter, said that
the statement given out by the vice
president contained all he had to say in
regard to h defalcation. When asked
vice president said: Il don't thing he
has"
At the local office of the detective
agency which has charge of bank cases
it was said that officials of hat COM
pany had heard nothing of the defal-
cation as yet, and that they had not
at that time been assigned to the case.
1lLS - oIlAAh ID "
of the National Bankers Association.
If the stories are true. Alvord dis
played entirely different characteristics
from those he showed at home. In
this city he was known as a man of
very regular habits. Among his asso-
ciates he was looked up to and on Wall
street was known ras Happy Alvord =
because of his CHEEKY ways. His home
was. in the suburb Of Mount Vernon
This home is a magnificent place To-
Gated on Chester Hill, one of the most
aristocratic sections Of the suburb. II
is surrounded by luxurious grounds
and there are extensive stables.
Alvord has long been considered one
Of the big men of the town. His family
entertained lavishly n gave large
sums to charity. He was prominent in
| church circles, and his wife is conSid-
cred one Of the most beautiful women
in Mount VernOn.
Invitations had been sent out for q
grand dinner at the Alvord home a
week ago tomorrow night. The day
set for the dinner messengers scurrieG
| throughout Mount Vernon recalling tht
| invitations. That night the house was
in darkness Friends OF the family
were told that Mr.. Alvord vas ill.
The darkened windows since ther
and the fact no callers were admitted
led the neighbors to believe that hi.
| illness was serious II was not until
this afternoon that the residents o
| Chester Hill heard of his big defalca
ton There was a rumor that he LET
the town on the day that the dinner in
vitations were Cancelled and that h
took a steamer for South America
This could not be corroborated.
Late this afternoon. Mrs. Alvord
wife Of the missing note teller. wa
seen at her Mount Vernon home. Sh'
was weeping bitterly n would no
talk about the case. The family con
sisted of Mr.. and Mrs. Alvord n tw'
girls and a boy. They kept four or nv
servants.
Mrs.. Alvord is said to have toll
friends that, owing to his position II
the bank. MI. Aivord was able to oh
tain tips which enabled him to max
$40, 900 to $4,000 a a over his salary
by operating in Wall street. h is sal
to have boasted that her husbands tip
were so straight that he never lost
rent in the street and always made
gain
Great ~uneasineSs was created Z
palace circles" says the C~onstantinopl