Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1900-10-25

new Yofk, October &c L. 4lyord
note teller OF the First National Bank.
ls defaulter to the amount Of s700 900.
AlVord has not yet been apprehended.
he mad been an employee of the bank
Tor over twenty years. The First
National Bank Is one OF the largest
banking institutions In the city and its
president is George r. Baker. who is
also president Of the Astor Nationa!
Bank and financial adviser Of the AS
tor family. The bank Is located at No.
Z Wall street and has a capital of $500
700 and surplus of S., ,OOO 900. The bank
gave out the following statement late
to-day
The note teller who has been in the
employ Of the First National Bank for
many years, is a defaulter to large
amount. His operations have continued
Tor a considera bic time and have been
skllltully concealed through a manipu-
IatlOn or his balance book. The discoV-
cry was made by one Of the banks en-
ployees few days after the completion
or an examination of the bank by the
United States examiners. During the
continuance Of his pecula tiOns, periodi-
several distinct corps Of examiners rep
resenttng the cOmptroller's department,
all expert accountants, and the bank
mas also had frequent independent ex-
& R.nlhatIOnS, neither Of which has de-
Veloped in any irrC gularity. The aggre-
gate of the false entries, amounting to
100000, has been charged off on the
books Of the bank cut of the reserve
fund, without diminishing the surplus
and nrnlitS of no. IL
Its last published statement 1t is ex-
pected that the shortage will be ma
terially reduced by a substantial sum,
OF which there is fair prospect of re-
covery."
Alvord was capable and experienced
and the discovery Of his defa1ca tiOns
made after he was gone was a COM
Plete surprise to everybody. The loss of
money is hardly disturbing the bank
which is one of the strongest in the
city. AlVOrd is about so years of age
and has a Wife and three children. His
home was at Mount Vernon, and he
was respected there as well as in the
street. His habits were good. 1t is be-
Heved that he lost money in stock
SpeculatiOns and that some OF the
money can be recovered. He disappear
ed week or ten days ago.
The crime has been known long
enough to the officers now to enabk
them to say with some assurance that
Alvord did his work alone. No one else
Is under suspicion.
A statement made by the bank on
September 5th showed the following:
Capital, $500 GEO; surplus, $1,000, coo; un-
divided profits, 81 ia, ,250; deposits, $685.
997, ,S95; demand loans and cash on
hand, $23,379, 276: time loans, 1854, ,610;
stocks and bonds, $50, no. 400.
In the statement the banks total re-
sources were placed at $52, 663 294.
Beyond the facts contained in the
official statement the banks vice-presi-
dent, Frank L. Iine. absolutely refused
to say a WCrd. Pre- sident George F.
Baker, when asked regarding the mat
ter, said that the statement given out
by the president contained all that
he had to say in regard to the defalca-
ton. When asked if Alvord had been
apprehended, the vice president said:
II don't think he has"
At the local cfice of the detective
agency which usually has charge of
bank cases, it was said that officials of
that company had heard nothing of the
defalcatiOnS AS yet and they had not
at that time been assigned to the case.
The First National Bank is a member
of the National Bankers Association.
Alvord had been with the bank for
twenty years and was one of the most
trusted men in the institution. His
steaIfngs extended over a long period,
but no suspicion of the truth was
known untii ten days ago, when he Gent
word that lie was i'll at his home. After
he had been aWay for day Or two the
bank put experts at work on some ir'
regularities found. AS the experts
delved deer er and deeper into AlVord's
books the eXttEt\Cf tke robbery began
to dawn on the officers until they were
overwhelmed to find that it had reached
the enormous figure of $500 900.
Whether that sum is all that he took is
not yet known.
1t has rot yet Gevelored how the note
teller was able to put his hands on so
much money. Iut one Of the directors
is reported to have said shat 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 opportunity
to abstract notes. drafts and checks a s
well as money. OF course, he had to be
especially s(<llful TO make his accounts
balance This dill lcctCr admitted that
ne was at ], s. to account for the
fatlu1 Of tie Lark examiners to dis
cover AiVCTd's ire gularitfes a t their
last examination. Forest RaynOr is in
charge cf tie r2t.Cna! bank examiners
office here.
What Alvcld die with all the cash is
a mystery IS yet. except that as usual
~, such cases it i said that a large
UT OF ii went III stock speculation.
DRY Is that he had lost $4,000 in
cal Dut what dea! it was is not
= 1t has been discovered that
the Summer ,\lvcrd visited Sara
where he cut q great figure, spend
money like prince. He rented a
age. kept a fine stable of horses,
1 a,oSidnS the horses is said