The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-10-24
HE STOLE 100000
TELLER ALyoRD DID a BIGGER
Jon THAN SCHNEIDER.
FIRST NATIONAL is WEALTHY
AND loss WAS MADE GOOD OUT or
THE RESERVE FUND.

supposed Teller AIvord Has Been
InduIrinE In stock specuIntions.
The Hanks Capital L. Only $500
400. hut ~ Has n Surplus of $1,000
oOo-Its Resources over s52 900. 600.
The DcfauItinE Note Teller Has
Not Heen Captured.
Ncw York. Oct 2S.-Cherles l. Alvord.
j.. note teller Of the First National Bank
OF thus chy. is a fugitive and a defaulter
10 The extent OF sOOO
The announcement OF the defalcauon.
which was made this afternoon. created
the utmost excitement ia the financial
district of the ciy. but the well-known
stability Of the First National and a state
ment issued by the bank had a quieting
cnert This statement was as follows.
The note teller. who has been ia the
employ % the First National Bank for
nearly twenty years. is a defauher to a
large amount His operations have con-
tinued for a considerable period ana have
been skiHfully concealed through ma
uipulatlon Of his balance book. The dis
,overy was made by one OF the bank 6
employees a few days after the compile
ton OF an examination Of the bank by
the United States examiners During tn
continuance OF his populations peri
odIral examinations have been made
by several distinct corps OF ex-
aminers representing the control
lers department. all expert accountants,
and che bank has also had frequent indie
pendent examinations neither OF which
has developed any irregularity. The ag-
cregate Of the false entries amounting TO
$4,000. has been charged of on the books
of the bank out OF the reserve fund.
without diminishing the surplus and prof
iis Of the bank as reported in les last
published statement. II Is expected that
the shortage will be materially reduced
by a substantial sum. OF which there is
fair prospect q recovery"
Was IA Trusted EmpIoye.
Alyord had been with the bank for TWEEN
'y years and was one Of the most trusted
men IN the institution. His stealings eN-
tended over a long period. but no sus-
i..on Of the truth was known until ten
az bis home. After he had been away
flr q day or two the bank put experts a;
u-TA ana some irregularities were found
As the experts dsived deeper ana deeper
ia.o Avord's books the extent OF the rob
berry began 20 dawn on the officers until
taey were overwhelmed 20 find that O.
iolched the enormous figure OF 10000
ha oil D.. -
no, yet known.
u mas not yet developed how the note
teller was able 20 put his hand on so
much money. But one Of the di-
I.ctors IS reported 70 have
said that Aivord was enabled 10 take
such a large sum because as note teller
Do was IN charge OF the mail This he
opened every morning and he had ample
opportunity to abstract notes. drafts aud
checks. as well as money. OF course. he
ttd to De especially skirful to make his
accounts balance. This director admitted
fat he was al loss to account for the
f'.iure Of the bank examiners 10 discover
A.vords Irregularities at their last ex-
animation.
Forrest Raynor Is In charge OF the ma
tonal bank examiners ONCE here.
What Alvord did with all the cash Is
also mystery as YET. except that as
usual In such cases. It is SAID that
large amount Of Il went in stock specula-
tou. ono story is that he had lost $4,000
30 one deal. but what deal Il was Is not
f1ei II has been discovered that dur
!ae The summer Alvord visited Saratoga.
"'"re he cut great figure. spending
rcy like a prince. lie rented cot
teo kept "a fine stable OF horses and be-
'"' playing the races. Is said to have
if4Icnted gambling houses.
Mig Man In His Town.
u The stories are true Aivord displayed
't.raiy different characteristics from
's, ne showed AZ hom. In this city he
"Hs known as a man OF very regular
ii.s. Among his associates he was
F's'i up 20 and on Wall street was
Known as Happy Alvord." because OF MS
' ways His home was Ia the suburb
Z" I1unf Vernon This home IS a mag
ii.'nt place located on Chester Hnl. one
Of most aristocratic sections of the
t-' Il was surrounded by luxurious
s.- and there are extensive stables.
".o.l has long been considered one OF the
- r.n n the town. His family enter
ae4 avishly and gave large sums e.
''H he was prominent In church cir
% his wife Is considered one OF he
a.luuful women Ia Mount Vernon.
lions had been sent out for
sand dinner at the Alvori
"e week ago tomorrow night.
''y set for the dinner mes
scurried throughout Mount Yer
a.lins the Invitations That night
.a4 was in darkness. Friends OF the
we're told that Mr.. Alvord was ill.
Nencd windows since then and the
'Ht 40 callers we're admitted. led
l.ors to believe that his illness
1us. II was not until this after
at the residents OF Chester Hi!i
his big defalcatlon There was
tHat he left the town on the day
l.nner invitations were canceil-
aat DE took steamer FOR South
This could not be corroborated.
Hs Wife L. DisconsoIate.
.a!s afternoon Mrs. Alvord. wife
missing note teller, was seen at
Mount Verncn home. she was weep