The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-10-24

ner nuspands tips were so straight that
he never lost cent and always made a
gain.
The First National bank Is considered
one OF the strongest financial institutions
in the city. George Baker, Its president.
is also president of the clearing house.
William n. Reed Is the cashier 1t was
the first instituted under the national
bank act.
Was n Complete Surprise.
Aivord was capable and experienced.
and the discovery OF his defalcation.
made after he was gone. was a COM
piete surprise to everybody The loss of
the money Is hardly disturbing the bank
which is one OF the strongest in the city.
Alvord is about so years old and has
wife and three children. His home was
at Mount Vernon and he was respected
there as well as in the street. His habits
were good. 1t is believed that he lost
money in stock speculations and that
some Of the money can be recovered. He
disappeared a week or ten days ago.
The crime has been known long enough
10 the officers now TO enable them to say.
with some assurance, that Alvord did his
work alone No one else is under suspi-
cion.
Alvord has not been captured.
At the local office of the detective
agency which usually has charge of
that company had heard nothing Of the
defaication as vet and that they had not
at that time been assigned TO the case.
The First National bank is member
Of the National Bankers Association,
solidity of Bank.
F. A. Baker. attorney for the First
National bank. said tonight:
OF securities and real estate in Alvords
name. and shall attach II Immediately.
I think this will bring the loss OF the
bank down to $500 900. We are, trying to
locate Alvord with detectives
An official connected with the bank,
who did not wish his name used, said:
"A proof that the bank Is not likely TO
suffer by the defaisasion l. that ,ts pse
were 81, $685. This surplus is increasing
fast. The par value of the stock Is sloo
a share. but Is has brought rs high as
s1,e23 at auction. The book value OF Its
stock is ss,lo5 per share and as high as
$500 has been bid. The percentage OF
increase OF capital according to its last
's TT has s for several ave Years paid annual
dividends OF 100 per cent. The First
National bank holds In stocks, bonds and
other sesYr =, s,a according to Its latest
Played to the Limit.
Bookmakers tonight talked OF nothing
else but the story Of the defalcation OF
the note teller OF the First National bank.
Every bookmaker at the Saratoga. race
track knew him. For them his nod was
sumcient for a bet of thousands. and
never during the season did they have 10
wait for the collection of his wagers.
Alvords great build made him marked
figure on the race track and at the Sara
toga Club. Though Dick Canheid says
he never saw him and does not know him.
many men who played roulette or faro re-
membered Alvord. who bought $500 stacks
and played to the limit. and almost In
variably lost. without the slightest show
of emotion.
Was n Regular Loser.
"He always be. me cash." said Sam
Frank, a Saratoga bookmaker, $50 never
knew much about him. ] never paid him
a bet, for he never won. He was the
around clipper the next day. and bet
me again. He could have all the credit
he wanted hut he never bet me more
than 500 on race, and always handed
'sHe drove the finest trotters in Sara
toga." said another bookmaker, "and
seemed to like the attention he attracted.
He did not seem to care for women. and
He had several friends in Saratoga, and
drove them about the village and down
the lake. where he had expensive din
from $50 to nag % one raoe IN he ps was
the most regular loser I ever saw. He
always lost. In fact. l never knew him
TO cash a bet. He had a stable of horses.
but they were run In the name OF
trainer. They never won during the sara
toga meeting. He was marked man
at Saratoga. owing TO his eze. Everybody
knew him. and his position In the First
National bank was well understood.
Knowing that he was living on salary.
there was considerable comment on his
actions. but bookmakers do not pay much
attention to such things. so long as a
man makes good his losses"