Cameron County press. [volume] (Emporium, Cameron County, Pa.) 1866-1922, 1900-11-01
STOLE A FORTUNE.
A Bank Teller Is a Defaulter for
100000.
His PecuIstions Were Carried on for
Long Period and He Deceived
Bank Examiners and Expert
Accountants by FaIsify-
ing the Books.

|
tional bank of this city, is i fugitive
and defaulter to the extent of $780,
600.
The announcement, when it was
mace Tuesday, created the utmost
excitement in the financial district Of
the city, but the wel-known stability
of the bank and statement issued
by the bank had a quieting effect.
Ihls statement was as follows:
The note teller who has been in
the employ of this bank for n great
many years is a defaulter for large
amount. His operations have been
skillfully concealed through n manip-
nlation of his balance book. The dis
covery was made by one of the banks
employees a few days after the COM
pletion of the examination of the
books by the United States bank ex-
aminers. During the continuance of
his peculations periodical eXamina-
tions have been made by several dis
tlnct corps of examiners representing
the comptroller's departmt mt, all ex-
pert accountants; and the bank has
also had frequent independent exam
nations; neither of which developed
any irre9ularity. The aggregate of
the false entries, amounting to $780,
000, 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. 1t is
expected 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
stcalings extended over 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
end 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 that sum
is all that he took is not yet known.
1t has not yet developed how the
note teller was able to put his hands
!
directors said that Alvord was able to
take such a large sum because as
note teller he had charge of the mail
This ne opened every morning and he
had ample opportunity to extract
notes, checks and money. OF course
he had to be especially skillfull to
make his accounts balance. This di-
rector admitted that he was at less
20, 4 i, f,,1 - 1,,,l l,,, l.
, examiner to discover Alvord's pecu-
lations at their last examination.
Forest Raynor is in charge of the
national bank examiners Office here.
What Alyord did with all the cash
| is also a mystery as yet, except that
as usual in such cases 1t is said that
a large amount of it went in stock
speculation. One story is that he had
lost $4,000 in one deal, but what
deal it was is not stated. During
the summer Alvord visited Saratoga,
where he cut a great figure, spending
money like prince. He rented a
cottage, kept fine stable of horses
and besides playing the races is said
10 have frequented gambling houses.
In this city he was known as a
man of very regular habits. Among
| his associates he was looked up to.
| and on Wall street was known aa
Happy Alyord" because of his
CHEEKY ways. His home was IN the
suburb of Mount Vernon. This home
is a magnificent place located on
| Chester hill, one of the most aristo-
cratic sections of the suburb. 1t is
surrounded by luxurious grounds and
there are extensive stables.
Alvord has long been considered
one of the big men of the town. His
family entertained lavishly and gave,
| large sums to charity. He was prom
inent in church circles and his wife is
| considered one of the most beautiful
women in Mount Vernon.
Invitations had been sent out fer a
grand dinner at the Alvord home &.
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 family were told that Mr.. Alvord,
was i'll. The darkened windows since
then and the fact that no callers
were admitted led the neighbors to
believe that his illness was serious.
1t was not until yesterday that the
residents of Chester hill heard of his
defalcation. There was rumor that
lie left the town on the day that the
dinner invitations were cancelled and
that he took steamer for South
America. This could not be corrobo-
rated. 4
Mrs. Alvord is said to have told
friends that, owing to his position in
the bank, Mr.. Alvord was able to
obtain tips which enabled him to
make $4,000 to $4,000 II year over his
salary by operating in Wall street.
She boasted that her husbands tips
were so straight that he never lost
cent in the street and always made
gain. Is
LimOn's Great Fire.
Mobile, Ala, Oct. 2i.,-Details of the
Port Limon fire reached here Tues