The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-10-24
MADE MONEY FLY.
AlVord Spent Stolen Funds In
Royal Manner.

New York, Oct 24-Up to IL o'clock
Cornelius l. Alvord. the defaulting teller
of the First National bank, had not been
arrested, and it was said no news had
been received of him Mrs. AlVord left
her home in Mt Vernon and came TO
this city this morning. 1t is said she
does not intend to return TO Mt Vernon.
It was learned today that when the
Alvords went to Saratoga last summer
they took with them all their horses and
carriages 1t took two cars to transport
the outfit The horses were blOOded an
finals and the vehicles We're all of the
handsomest description One set of har-
ness alone is said TO have cost $500, and
everything about the stable equipment
was on the same scale.
Vice President Hine, Of the First Ma
tiOnal bank, in answer to a number OF
questions put to him in regard to Al
word and the general situation, said that
the bank had cleared up the whole mat
ter Of the defalcation to its own salts
faction This was interpreted to mean
that just how and when Alvord had
taken the money had been discovered
by the officials. Mr. Hine said he did
not care to talk about the matter.
President Baker. who arrived at the
bank from Tuxedo early today, would
not say anything to inquirers, except
to refer them to the vice president
W. G. Snow, an assistant cashier Of
the bank who lives in Montclair, n.
j =, SclQ klaL he naQ no 70 ltlA
any of the details of the matter, but
continued:
The money which was stolen came
out of the profits accruing to the bank,
and not out of the capital. II could
explain the methods Of the defaulter to
YOU you would see that they were very
simple The stealing has been going
on fer five or six years. The bank ex-
aminers should have discovered it and
so should we. but it was one little thing
we all overlooked
We trusted Alvord implicitly and had
not the least suspicion of him until last
Thursday. On that day while the bank
examiner was inspecting the books one
of our clerks called attention to a cir
cumstance that made US suspicious OF
AlVord. He had discovered this circum-
stance by the merest chance. 1t had en-
tire4y escaped the notice of the bank ex-
aminer, for he said the books were all
right
officers OF the bank. at the time When
the bank was closed Alvord went home
as usual Then a few of US who knew
about the clerks discovery, started an
Investigation of the books We found
that by making false entries Alvord had
been stealing out Of our profits. NO
body knew of our investigation and Al
word could not have had the least sus-
picion of it.
HE did not return to work next morn
ing and has not been seen since The
only explanation for his flight, to my
not believe he could have guessed that
we suspected him that afternoon Even
the officers of the bank did not know OF
the discovery until next day
Even since last Thursday we have
had detectives on his trail and I think
that he will landed soon. He is in New
York city, I believe. at the present time.
He could not conceal himself well any
where as he is q very large man Of a
very striking appearance.
II wish 1 could explain his trick to
you. Tt is so simple. We are all great
~ chagrined to think he could have fool
ed Us by it. Years ago we lost q few
thousand in the same way and we took
special precautions to prevent anything
like It in the future l. among others,
stayed at the bank night after night
studying methods and we thought that
we could not be fooled again
Considerable information as to the
fashion in which AlvOrd spent the
hanks funds is impaired by race track
habitues-
A well known booknaaker had this to
say OF the missing mans actions at Sar-
atoga.
"AIvord was a regular frequenter of
the tracks. He was always accOmpan-
led by woman with blonde hair who
wore thin, hlmy veil which. while not
thick. served to hide her features. so
that If I saw her today on Broadway ]
would not recognize her.
He generally bet on the English sys-
tenn. That is to say. he knew all the
bookmakers by sight and at a race he
would go to a hookie saying. Bet me
$500 on this horse He would go the
rounds of the bookies putting a bet with
each one Then every Monday ali the
bookmakers would go TO the United
States hotel and there he would settle
up IN spot cash. Never any checks and
every Monday regularly. Because Of
this popularity the bookmakers used to
call him the prince -
Al Davis. another turfman. made the
statement that II Saratoga Alvord was
known as the Honorable AR Aivord. the