The Providence news. (Providence [R.I.]) 1891-1906, 1900-10-24
NOT APPREHENDED

the banks total resources were placed
at S52,663, 29i.
NOT APPREHENDED.
Beyond the facts contained i'm the Off
cial statement, the banks vice-president
Frank l.. Hine, absolutely refused to say
a word.
President George +. Baker. when asked
regarding the matter said that the state
ment given out by the vice-president con-
tanned all he had to say in regard TO the
defalcation.
When asked if Alvord had been appre-
hended, the vice president replied:
II don't think he has"
At the local office OF the detective
agency which usually has charge of the
bank cases It was said that the officials
OF the company had heard nothing OF the
defalcation as yet. and that they had not
az that time been assigned to the case
The First National Bank is a member
of the National Bankers Association
The following are the officers OF the
bank: President. q. +. Baker; vice-presi-
dents. III. G. Fahnestock, Il. l.. Hinc cash
Ter William D. Reed.
The announcement of the defalcation
which was made yesterday afternoon
created the utmost excitement I'm the n
nancial district of the city, hut the we'll
known stability of the First National and
the statement issued by the bank had n
quieting effect.
Alvord was one OF the most trusted men
I'm the institution His stealings extended
over long period, but there was no
suspicion of the truth until ten DAYS ago.
when he sent word that he was in at his
home.
After he had been away for a day or
two the bank put experts at work and
some Irregularities were found As the
experts went deeper and deeper into Al
words books the officers were overwhelm-
ed To find it reached the enormous figure
OF 100000.
Whether that sum is all he took Is not
yet known
OPENED THE MAIL.
IL has not yet developed how the note
teller was able To secure so much money
and escape immediate detection. one OF
the directors is reported TO have said that
Alvord was enabled TO take such a large
sum because he was in charge OF the mail.
This he opened every morning and he
had ample opportunity TO abstract notes.
drafts and checks, as well as money. OF
course nc had 90 be especially skilfuI 20
make his accounts balance.
This director admitted that he was AT "A
loss 10 account for the failure OF the
bank examiners To discover Alvord's ir-
regularities at their last examination.
W udA NlNtlu fiu WITH All the cash is
also a mystery as yet. except that, Il is
said. large amount OF It went into stock
speculation.
one story Is that he had lost s75. 600 I'm
one deal. but what deal IL was is not
stated.
lt has been discovered that during the
summer Alvord visited Saratoga, where
he spent money like a prince He rented a
cottage, kept stable OF fine horses and
besides playing the races Is said To have
frequented gambling houses
lf these stories are true Alvord dis
played entirely different characteristics
than those he showed at home. In this
city he was known az "a man OF very reg
ular habits.
Among his associates he was looked up
90. and ON Wall street was known az
Happy Alvord." because OF his CHEEKY
manner Ills home was I'm the suburb II
Mt. Vernon. on Chester Ifill. one OF the
most aristocratic sections OF the suburbs.
iC r. surrounded by luxurious grounds and
there are extensive stables
ENTERTAINED LAv1sHLY.
Alvord has long been considered one of
the most prominent men of the town. His
family entertained lsVishlv aud gave
lsrss sums 10 charity. lie stood high In