The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-10-24
System Of False Entries Permits him
to Secure 500, 1000 of the
Banks Deposits.
HASA SURPLUSOf s5,O0O,0OO.
One Of the Largest Banking 1nstitu-
tions on Wall Street-Discovery
Made By An Employe.


made this afternoon created the utmost
excitement in the financial district OF
the city. but the well known stability
of the First National and statement
issued by the bank had quiet!ng effect.
This statement was as follows:
THE note teller, who has been in the
employ Of the First National Bank for
many years is q defaulter to q large
amount. His operations have continued
for considerable period and have been
slsilfully concealed through nanipula4
ton OF his balance book. The discovery
was made by one OF the banks en-
ployes few days after the examination
of the bank by the United States exam
liners.
Periodical Examinations Made.
During the continuance OF his em-
ployment periodical examinations have
been made by several distinct corps Of
examiners representing the comptrol-
ler's department. all expert accountants
and the bank has also had frequent In
dependent examinations: neither Of
which has developed any irregularity.
The aggregate Of the false entries
amounting to 100000. 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 re-
ported in its last published statement
1t Is expected that the shortage will be
materially reduced by substantial
sum. Of which there is a fair prospect Of
recovering"
Was Trusted Man.
Alvord has been with the bank for
twenty years and was one Of the most
trusted men in the Institution. His
stealings extended over long period,
but no suspicion of the truth was known
until ten days ago, when he sent word
that he was Ill at his home. After he
had been away q day or two. the bank
put experts at work and some Irregular
tiles were found. AS the experts delved
deeper and deeper into Alvord's books,
on the officers until they were over
whelmed to find that 1t reached the
enormous figure OF 100000. Whether
that sum is all he took Is not yet devel-
oped how the note teller was able to put
his hands on SO much money. But one
Of the directors is reported to have said
that }Alvord was enabled to take such
a large sum because as note teller he
was in charge of the mall. This he
opened every morning and he had am
pie opportunity to abstract notes,
drafts and checks as well as money.
Skillful to Make Accounts Balance.
or course he had TO be skillful to make
his account balance. This Is, 1t is ad-
mitted, he was at loss to account for
the failure Of the bank examiners to
discover Alvord's irregularities at their
[ last examination.
Rorest Rayner Is in charge Of the ma
tional bank examiners office here.
What Alvord did With all HIS cash Is
also mystery as yet except that, as
usual In such cases, 1t Is said that n
large amount of It went in stock specu-
lation. 1t has been discovered that dur
Ing the summer Alvord visited Sarato-
ga, where he cut q great figure, spend
Ing money like prince. He rented a
cottage, kept n fine stable OF horses and
besides playing the races Is said to have
freQuented gambling houses. }5s,
Known as Model Man.
II these stories are true, Alvord dis
played different characteristics than
those he showed at home. In this city
he was known as n man OF very regular
habits. Among his associates he was
looked up to and on Wall streets wns
known as Happy Alvord.' because of
his CHEEKY ways. His home was in the
suburb Of Mt. Vernon. This home Is n
magnificent place located Mt Chester
Hill, ono of the most aristocratic sec
tions OF the suburb. 1t Is surrounded
by luxurious grounds and there are cx-
tenslvc stables.
Alvord has long been considered one
or the bis men OF the town. His family
entertained lavishly and gave large
sums TO charity. He was prominent in
church circles and his wife is considered
one OF the most beautiful women in Mt.
Vernon. fa. 49, -
Rumor He Left for South America.
1t was not until this afternoon that
the residents Of Chester Hill heard of
his big defalcation. There was ru-
NOR that he had taken steamer for
South America n week ago, but this
could not be corroboratcd. &4
Late this afternoon Mrs Alvord, wife
or the missing note teller, was seen at
her MI. Vernon home. She was Weep
Ing bitterly and would not talk about
the case. The family consisted OF MIR.
and Mrs. Avord and two girls and a
boy. They kept four or five servants.
Mrs. Alvord Ia said TO have told
friends that owing to his position in tho
bank, Mr.. Alvord was able to obtain tips
which enabled him to make $4,000 10
$4,000 n year over his salary by operat
Ing on Wall street. Is ~ +.
Boasted Of Her Husbands Fps.
She Is said TO have boastcd that hcr
husbands tips were so straight that he
never lost cent In the street and nj.
ways made gain.
The First National Bank Is conaldered
one OF the strongest financial ins,itu-
tions In the city, George i. Baker, lis
president, Is also president or the clear.
Ing house. William Il. Reed Ia tho
cashier. The directors nrc George f.
liaker. Fisher a. Baker. William Il.
Reed, Harry c. Fnhnes;ock. William
'Lahncstock, f. l.. Hlnc and James A,
100000. ~ ! : "