Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-10-25
No IRAC[ O ALIORD|
Detectives Unable to Get . Clsw
70 Whereabouts 81 The
Defaulter.
Bank Om6lals say Bic Thsfts Is.
tended Over 1 Period Of
Five Years.
They Arc Unwilling, However, 4
Give Exploit Explanation Of
Alvord's Methoda

New York, Oct. 25.-The seal Of secre-
cy has been placed upon the lips OF all
the officials and employees OF the First
National Bank by President Baker, and
lit is announced that only Vice Presi-
dent F. L. Hine will hereafter be the
official spokesman in all matters per-
tanning to the Alvord defalcation.
The directors held conference, yes
terday, which lasted off and on during
the time that the bank was open, and
late in the afternoon the following
statement was issued as to. the result
of the days labor
| 'Alvords false entries appear to have
commenced about five years ago. One
of his duties was to collect drafts and
notes not payable thru the clearing
house-a considerable part OF these
notes being paid in cash. He appropri-
ated portion Of this cash from time
to time as opportunity offered before II
was turned over to the money clerk.
The discrepancy was concealed by
adding to the item of exchanges for the
clearing house on the note teller's bal
anck book an amount equal to the sum
of distractions. Until his recent disap-
pearance Alvord had not been absen,
from the bank during one business day
this year. He did not take his usual
vacation last summer, requesting that
instead he might take OF a month mex,
winter for a trip TO California.
Vice President Hine said, when re.
lquested to give an Illustration In fig
ures. and In everyday language, with
l5out financial complications, showing
how Alvord did his crooked work, re-
piled that every body in banks would
understand what was meant by tht
statement. and If the general public die
not. he did not care
MIR. Hine declined to explain what tht
contingent fund is which was not in.
cluded in the last official statement Of
| the bank, and which will stand the
defalcation without in any way affect.
ling the statement as to assets and liza
! bilities
Other bankers, Mr.. Hine, do not un,
lderstand what is meant by funt
which does not appear in the bank
statement. and suggest 1t is an unusu
al thing in the banking business. Will
1 YOU not tell what it is to enlightel
lthem9"
No replied Mr.. Hine. I'VE know
|! what the fund is and where il is, ant
4 that is enough for the public to know
/ An impression seems to exist that som
one else in the bank is implica ted in Al
Words defalcaton. Now. wish to sa,
i emphatically that Alvord alone 10 i'm
lplicated, and the published story is no
i true that two clerks did not report 70
|duty at the bank today
y Does not an embezzlement extend
y ing over five years. amounting to 800
900. necessarily implicate some one !
Its mismana Rement?
4 "Ordinarily 1t would, but with al
Word no, for he was trusted furthe
|perhaps than any other man in tn
( banking business in this city, becaus
q he was believed to be absolutely hon
est.
II have no idea how much the ban
4 viii recover from the assets of Alvort
4 because We know only in a general wa
. what he left behind that we can attach
We Will recover what We can. be It grea
or small, but what IL being done in thl
Isregard ! can not state. We have nc
heard from Alvorc eince he left III
r DaNk on y HuTSQdy ldel. hiio 5S oO X ~
know where he il now. He may be
!, the city or far away.
United States District Attorney Bui
:. inett had a conference with officers Z
!, 1.-The bank but nothing concerning tt
prosecution of Alvord was made publ
Itis said that warrant is.ued for II
!. arrest of Alvord in the United State
Icircuit court last week was siven
! ~ Ill
. no trace of Alvord has been found sins
: he wac last seen at the bank on Thur,
e