The age-herald., 1900-10-25
THE B|G NEW YORK BANK DEFALCAT|ON The World Says AIvord Has Been
 Commentaries a High Liver.

New York, October 25-The World this (Thursday) morning says: Cornelius l.. Alvord, Jr., the note teller who robbed the First National Bank of s70O,OOO. is either in the custody of the Pinkerton men, or he is where they can get him in very short time.
 This was the surprising statement made last night by Chief of Police Foley of Mount Vernon, and developments of the day tend to corroborate it. There is no police hunt being made for Alvord Neither the police of this city nor the police of Mount Vernon or any other city have been asked by the bank officials to find him.
 Every indication last night pointed to the fact that the whereabouts of Alvord was DO mystery to the bank officials and Pinkerton men,
 Nothing was given out yesterday to indi- cate that Alvord had been apprehended, but to the contrary it was stated that no news had been received of him.
 Mrs. Alvord left her home in Mount Yer non and came to the city yesterday It is said he does not desire to return to Mount Vernon.
 It was learned that when the Alvords went to Saratoga last summer they took with them all their horses and carriages. It took two cars to transport the outfit. The horses were blooded animals, and the vehicles were all of the handosmest de- scIlption- One set of harness alone is said to have cost s1500.
 Vice President Hine of the First National Bank said the bank had cleared up the matter of the defalcation to its own satis- t1,f tie. i,. that just how much Alvord had taken had been discovered by the officials.
 President Baker would not say anything to inquirers except to refer them to the vice president.
 The First National Bank has correspond ents in almost any city of any size in the country, so that its mail from correspond ents is always very large In some cities Philadelphia for instance-the number of its correspondents is more than half d dozen All through Pennsylvania in the coal and mine districts it has representa- tive banks correspondents and its mail is probably larger than that of any one banking institution in this city.
 According to Vice President Hine, while Alvord handled a great deal of the money that came into the bank, he had nothing 10
 
 to interior correspondents.
 In spite of many rumors, some of them very substantiaE it may be positively stated that the officials of the bank have no definite idea just what Alvord did with the large sum of money he stole. That much of it went in high living and lux uries for his family is clear, but the bank officials believe that less than one fourth of his offerings went in that way, Wall street is full of stories telling how the defaulter was heavy loser in the stock market and, although the bank officers refuse to discuss that phase of the matter, there is no doubt that their detectives are looking into it. and if Alvord 8 broker or brokers can be found they will be made to disgorge ii that should be possible.
 In Wall street the opinion. prevails that Alvord was a superior defaulter-that is to say, he was .cleverer than the average of his kind He probably realized that the majority of his rivals of the past got away with very little money.
 Banking men were disposed to believe to- day that probably Alvord managed to make his escape with several hundred thousand dollars. It was also thought possible that the Schrieder Elizabethport dedication helped to uncover Alvord's opera tions.
 Becoming nervous and apprehensive over the notoriety obtained by Schreiber, AL word failed. through neglect or nervousness to checq up some of the transactions, and the result was exposure.