The Portland daily press., 1900-10-24
Banks Standing Not Affected by
DefaIcation.
A Large Amount of steaIings Lost by
Stock SpecuIatiOms.

on Wall street was known as Happy
Alvord, - because of his CHEEKY manner.
His home WAS In the suburb of Mount
Vernon, on Chester Hill, one of the most
arisbocratic sections of the suburb. 1t is
surrounded by luxurious grounds and
there are extensive stables.
Alvord has long been considered one
OF the most prominent men of the town.
His family entertained lav1shly and gave
large sums to cnarity. He stood high
in church circles and his wife is consid-
cred one of the most beautiful women
in Mt. Vernon.
Invitations had been sent out for a
ago tomorrow night. The day set for the
dinner messengers recalled the invita-
t1Ons. Tha5 night the house was in
darkness. Friends of the family were
told that Mr.. AIvord was i'll. The dark
ened windows since then and the fact
that no callers were admitted, led the
neighbOrs to believe that his Illness was
serious.
1t was not until this afternoon that
the residents of Chester Hill heard of the
big defalcatiOn of their neighbor. 1t is
rumOred that he lefG town on the day
that the dinner Invitations were can
celled and that he took a ST. mer for
South America, but this could not be
zorro ob0rated, Late this afternoon, Mrs.
Alvord, wife OF the missing note teller,
was seen at her Mount Vernon home
She was weeping bitterly and would not
talk about the case. The family consist
ed Of Mr.. and Mrs. Alvord and two girls
and boy. They kept four or five SER
wants.
Mrs. AIyord is said to have told friends
that owing to his position in the bank,
Mr. AIvOrd was able to obtain tips
which enabled him to make $40, 900 to
S5J, 600 year over his salary by operating
IN Wall street. She is said to have boast
ed that her husbands's tips were SO
straight that he never lost a cent in the
street and always made gain.
The First National bank is considered
one of the strong financial institutions
or the city. George +. Baker, 1t president,
is also president of the clearing house.
VIM. r. Reed is the cashier. The d1-
rectOrs are George +, Baker, Fisher A.
Baker, VIM. B. Reed, Harry G. Fahne-
stock, VIM. Fahnestock, r. l.. Hine and
James Z. Garland, The bank has
capital of $500, ,0OO
The First National was the first to or
ganize under the national bank act, and
President Baker and his associates have
been in charge for 10 years.It was found
ed by Jacob Thompson, who was publish
er OF the Bank Note DeteotOr. President
Baker ana Director Fahnestock are
among the directors of the Central rail-
road OF New Jersey.
Fisher A. Baker, attorney of the First
National bank said tonight:
''We have located about 5000, 900 worth
of securities and real estate In A1vord;s
name and shall attach it Immediately.
think this will bring the loss of the
bank down to $500,0OO. We are trying to
locate AIvOrd with detective. -
Lawyer Jacob +. Miller, who Is eoun-
sci for Alvord was asked tonight when he
last saw Alvord.
Zone day last week, " he replied. 81
may as well tell you that we are very old
friends but since he moved to Mount
Vernon have seen little of him. ] had
not see him for long time previous to
the day when he called at my office to
consult me regarding this matter. He
came tome both as friend and a lawyer
and became his COUNSEL
Book makers tonight talked of nothing