The Van Buren press., 1900-10-27
A MAGNIFICENT ROBB[R.
There Was Nothing Small About
His Peculations; He Was
No Cheap Man.
fu0k ONLY SEVEN HUNDRED THOUSAND.
Excitement Caused In Now York Financial
Circles by the Announcement that
Charles l. Aivord, Note Teller of the
First National Bank, Was Heavy De-
faulter and q Fugitive.

fauiter and Fugitive.
New York, Oct. 24.-Charles l.. AL
ford, note teller of the First nationa
bank Of this city, is fugitive and de
faulter to the extent of 100000.
The announcement of the defalca
ton, which was made yesterday after
noon, created the utmost excitement
in the financial district Of the city
but the well-known stability of tn,
First national and statement is
sued by the bank had quieting eff
| feet. This statement was as follows
"The note teller, who has been il
the employ of the First national Danl
for many years, is defaulter to
large amount. His operations have
continued for a considerable period
and have been skilfully concealed
through the manipulation of his bal
ance books. This discovery was made
by one of the banks employees a few
days after the completion of the ex
animation of the bank by the United
| States examiners. During the con
FINANCE of his populations periodical
examinations have been made by sew
eral distinct corps of examiners rep
resenting the comptroller's depart
ment, all expert accountants, and the
bank has also had frequent independ
ent examinations, neither of which
has developed any irregularity. The
aggregate of the false entries
amounting to 100000, mas beer
charged off on the books of the bank
out of the reserve fund, without di
minishing the surplus and profits OF
the bank as reported in its last pub
lished statement. 1t is said that the
shortage will be materially reduced
by a substantial sum of which there is
fair prospect of recovery"
Alvord had been with the bank for
20 years and was one of the most
trusted men in the institution. His
stealing extended over a long period
but no suspicion of the truth was
known until 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 experts delved deeper and
deeper into Alvord's books the extent
of the robbery began to dawn on the
officers, until they were overwhelmed
TO find that it reached the enormous
figure of 100000. Whether this sum is
all he took is not yet known.
1t has not yet developed how the
note teller was able to put his hands
Oh so much money, but one of the d.
rectors is reported to have said that
Alvord was enabled to take such n
large sum because as note teller he
was in charge of the mail. This he
opened every morning, and lie had
ample opportunity to abstract notes,
drafts and checks rs well us money.
OF course he had to be especially skill.
full to make his accounts balance. This
director admitted that he was at
loss to account for the failure of tn
bank examiners to discover Alvord's
Irregularities at their last examina.
ton.
Forest Raynor 10 in charge Of the
national bank examiners Office here.
What Alvord did with all the casl
Is also mystery as yet, except that,
as usual In such cases II IN said that
large amount Of It went in stock
speculation. One story is that he had
lost $4,000 in ono deal, but what deal
II was Is not stated. II has been dis
covered that during the summer Al
word visited Saratoga, where he cut
great figure, spending money like o
prince.
II these stories are true Alvord dis.
played entirely different characteris-
ties than those he showed at home. In
this city he was known as man OF
very regular habits, Among his as
sociates he was looked up to and on
Wall street was known us Happy"
Alyord, because OF his CHEEKY. ways.
His home was in the suburb of Mount
Vernon, This home Is n magnificent
place, located on Chester Hill, one OF
the most aristocratic sections of the
suburb. II is surrounded by luxuri.
Gus grounds, and there are extensive
stables. Alyord has long been con-
sidered one Of the big men Of the
town. His family entertained lavishly
and gave large sums to charity, lie
was prominent In church circles, and
his wife IN considered one OF the most
beautiful women In Mount Vernon.
Invitations had been sent out for
a grand dinner at the Alvord home n
week ago tonight. The day set for
the dinner messengers scurried
throughout Mount Vernon recalling
the invitations, That night the house
was In darkness. Friends OF the fam,
ily were told that Mr.. Alvord was III
The dOrkened windows since then and
the fact that no callers were admitted
led the neighbors to believe that his
Illness was serious.
II was not until yesterday after
noon that the residents Of Chester
Hin heard OF his big defalcation.
There was rumor that he left the
town on the day that the dinner In.
vltntions were cancelled, and that he
took II steamer for South America.
This could not be corrobcrntcd.
Late yesterday afternoon, Mrs, Al.
word, wife OF the missing note teller.
was seen ut her Mount Vernon home.
She was weeping bitterly, and would
not talk about the ease, The famil,
consisted of Mr.. and Mrs, Alvord and
two girls and boy, They kept four
or Ave servants,
Mrs, Alvord il said TO have told
friends TINT owing 20 his position In
| tina hnnL Mr. Award <vna alba Ia ala.