The Kalispell bee. [volume] (Kalispell, Mont.) 1900-192?, 1900-10-24
STOLE A
LARGE SUN,
New York Bank Clerks Ac-
counts Are Short
NEARLY A MILLION
First National Bank of New York Suffers
Heavily Through a Dishonest
Employe.

day there was a report current that
an employ of one of the banks of the
city had defaulted in large amount
1t was stated that the bank affected
was the First Nationa land that the en-
ploye was named lAvord and that the
defaulcation will reach a large amount
possibly 100000.
The First National bank is one Of the
largest in the country and it's president
is George E. Baker, who is also presi-
dent of the Astor bank. and also
financial adviser of the Astor family
The bank is located at No. Wall
street, and has capital of $5O0,OOO
and a surpluss of 100000 and div.
dend profits of 100000. Alvord was
note teller of the bank. The manner
in which the defalcation was brought
about has not been made known.
Alvord has been an employe of the
bank for over 20 years. The bank
gave out the following statement late
this afternoon. "The note teller who
has been in the employ of the First
National bank for many years, is a
defaulter to large amount. His op-
erations have continued for a con-
siderable period and have been
skillfully concealed through the man
ipulation of his balance book The
discovery was made by one OF the
banks employees, few days after the
completion of an examination of the
bank by United States bank ex-
aminer. During the continuance of
his speculations, periodical exami-
nations have been made by several
district examiners representing the
comptrollers department, all expert
accountants, and the bank has also
had frequent Independent examinations
neither of which had developed any
irregularity. The aggregate of false
entries amounts to 100000, and has
been charged off the books by the bank
into the reserve fund without di-
minishing the surplus and profits of
the bank, as reported in it's last pub
lished statement. 1t is expected the
shortage will be materially reduced by
substantial sum of which there is
fair prospects of recovering"
Alvord was capable and experienced,
and the news of his defalcation came
as surprise.
Alvords habits were good nd his
family connections were of the best.
He dissipated a week or ten days ago
The crime has been known long
enough to officials now,to enable them
to say with some assurance that AL
word did his work alone, and no one
else is under suspicion. Alvord has
not been captured.
At the Office of a local detective
agency which has charge of the bank
case, it was learned that the company
had heard nothing of the defaulter as
yet, and they had not been able to
locate or obtain any clew of him.
F. A Baker attorney for the First
National bank, said tonight: I'VE
have located about 100000 worth of
the securities and real estate in AL
words name, and shall attach it i'm.
mediately. ! think this will bring
down the loss to the bank to $500, ,0OO."
Late this afternoon Mrs. Alvord, wife
of the missing note teller. was seen at
her Mount Vernon home. She was
weeping bitterly and was not in a
talking mood. Their married life was
very happy, and they kept four or five
servants. Mrs Alvord is said to have
told friends that owing to his position
in the bank. Alvoid was able to obtain
tips which enabled him to gain $40,
900 to $4,000 a year over his salary by
dealing in Wall street. She is said to
have believed that her husbands tips
were so straight that he never lost a
cent in the street. and always made