The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1900-10-27
ROBBED, BY a TELLE
First National Bank Of New York
Loses Heavily.

Charles l.. Alvord, a Trusted Employe,
Ii Missing, and 1t liz Found
That He Has Appropri-
atedS 100000.
New York, Oct. 24.-Charles L. AL
vord, Jr:, note teller of the First ma
tional bank of this city, is fugitive
and a defaulter to the extent of $780,
600. The announcement of the detail
cation, which was made Tuesday aft
ernoon, created the utmost excitement
In the financial district of the city, but
the well-known stability of the First
national and a statement issued by the
bank had quieting effect. This state
menl was as follows:
'crhe note teller, who has been in the
employ Of the First national bank for many
years. is defaulter to a large amount.
! His operations have continued for con-
siderable PERIOD and have been skillfully
concealed through a manipulation of his
balance book. The discovery was made
by one of the banks employees a few days
after the completion Of an examination of
/. the bank by the United States examiners.
! During the continuance of his populations
periodical examinations have been made
by several distinct corps of examiners rep
resenting the comptroller's department..
all expert accountants; and the bank has
also had frequent independent examina-
tons; neither OF which has developed any
irregularfty. 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
reported in its last published statement.
It is @expected that the shortage will be
materially reduced by a substantial sum,
nf yyh lie fa ir mr. of
Alvord had been with the bank for
20 years and was. one of the most trust
ed men in the institution. His stealings
extended over long period, but no
suspicion of the truth was known I'M
til ten days ago, when he sent word
that he was i'll at his home. After he
had been away for day or two the
bank put experts at work, and some
irregularities were found. AS the ex-
perts delved deeper and deeper into
Alvord's books the extent of the rob-
berry began to dawn on the officers, I'M
til they were overwhelmed to find that
1t reached the enormous figure of $780,
: 700. Whether that sum is all that he
took is not yet known.
1t has not yet developed how the
J note teller was able to put his hands
on SO much money. But one of the d.
rectors is reported to have said that
Alvord was enabled to take such large
sum because. as note teller, he was in
charge of the mail. This he opened
every morning. and he had ample OPP
portunity to abstract notes, drafts and
checks as we'll as money. OF course, he
had to be especially skillful to make
his accounts balance. This director
admitted that he was at loss to ac-
count for the failure of the bank ex-
aminers to discover Alvord's ,irregu-
larities at their last examination. For
rest Raynor, is in charge of the ma
tional bank examiners Office 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 it went in stock spec
u.ation. One story is that he had lost
: $4,000 in one deal. but what deal it
Was(s not stated. It has been discov-
cred THAT during the summer Alvord
visited Saratoga. where he cut great
figure, spending money like a.prince.
He rented cottage. kept a fine stable
of horses, and besides playing the
races, is said to have frequented gam
. bling houses.
If these stories are true. Alvord dis
! played entire different, characteristics
than those he showed at home. In
this city he was known as man of very
regular habits. Among his associates
he was looked. up to, and on Wall street
was known as Happy Alvord." because
of his CHEEKY ways. His home was in
the suburb of Mount Vernon. This
home is a magnificent pace, located on
: Chester hill. one of the most aristocrat-
ic sections of the suburb. 1t is sur
rounded by luxurious grounds. and
there Ore extensive stables. Alvord has
long been considered one of the big men
of the town. His family entertained
lavishly, and gave large sums to char
fly. He was prominent in church cir
cles, and his wife is considered one of
the most beautiful women in Mount
Vernon.
The First national bank is consid-
cred one of the strong financial insti-
: tutions of the city. George F. Baker,
JUS pIcslSlCiIl, 10 dlSO VI CIlC
clearing house. William B. Reed is
tie cashier. The directors are George
T. Baker, Fisher A. Baker. William B.
Reed, Harry c.. Fab. .stock, William
Fahnestock, r. L. Hine and James A.
Garland. The bank mas a capital of
100000. The First national was the
!, first to organize under the national
bank act, and President Baker. and
his associates have been in charge for
rs years. Tt was founded by Jacob
Thompson. who was publisher of the
Bank Note Detector. President Baker
and Director Fahnestock are among
the directors of the Central railway
of New Jersey.
Sir Thomas Satisfied.
London, Oct. 24.-Sir Thomas Lip
ton has cabled as follows to J. v. S.
!. Odtiie. secretary Of the New York
Yacht club: "Thoroughly satisfac-
tory. Previous cablegram as regards
duration was merely suggestion
5F Will Still Be Friendly.
Berlin, Oct. 24.-Count Won Buelow,
the imperial. chancellor, authorized
the statement that his accession to the
{ chancsllorship will mean no change
in Gerlnany's friendly attitude toward
the United States, either politically or
commercially.