The sun., 1900-10-25
so EASY TO STEAL S69O,OOO.
BiNH TELLER ALVORDy METHOD
MADE As CLEAR As DAY.

Cooked for the Bencnt Of the Examiner,
Had to Doctor His Clearing Hoa.s sheet
when They Were In the Bank twice Year.
Cornelius l.. Alvord, Jr.. stole $4,000 Of the
First National Banks money NJ easily AZ
man living at the rate Of $4,000 a year puts
his hand In his pocket and wlthdraws the
cash needed to pay hi, bills. or signs a check.
Alyord for the last two years lived at a tSoOoon
rate, unless he pulled out Of the bank very big
sum all In bunch just before he went away
a. n ilnal haul for In a statement made public
by the Comptrolers on'e In Washington
yesterday II was declared that examination
Of the banks books showed that Alvords
shortage two years ago had been only about
sloOOOO Altogether his stealings have ex-
tended over period Of about Ave wears, during
which time he has been in sole control Of his
department, no one having been appointed
10 check his balances or having been substi-
tuted at his desk AZ intervals. "a IL the rule In
many banks. lie had not begun his soalings
whom public announcement was made of Samuel
C. Srcley's thefts Of .SjI,oOO from the National
shoe and Leather Bank. which had extended
over a number Of years. and WHOM much was
said among bankers regarding tho practice
Of permitting a bank clerk TO remain contin-
uouSly at one post, practice which had enabled
Secley and Frederick Baker to rob that bank
Of hGlf as much a Alvord got away with
now HE 1T; OFFICIAL EXPLANATION.
Tho acting Comptroller Of the Currency.
Deputy Comptroller T. p. Kane. gave out the
following explanation az Washington yesterday
Of the way In which Alvords robberes had been
carried on
During the process of the examination ~
the First National Bank. Assistant Cashier
Backus discovered that the note and exchange
teller. Avord was short in his cash to an amount
which has since been found to be so0nOoD
His thefts have been going on for long time
The plan OF concealing them md making the
cash on hand agree with the amount for which
he was accountable. as shown by the books.
was to take out of the morning mail, Of which
he was In charge, a sufficient number Of cash
items to cover the aggregate amount Of his
defalcation and add them to the exchanges
for the Clearing House received during the
preceding day The examination OF the e1-
changes at the time of the examination showed
the total amount correct. but 100000 OF the
items had been taken from the morning receipts
and listed with the previous days exchanges.
the amount Of additions being reduced that
much, so that the sum OF the two aggregated
the correct amount. change in the slip 10y
Alvord later in the day caused inquiry and COM
parisOn to be made at the Clearing House, when
IL was discovered that tho two items Of previous
days exchanges and morning additions did
not correspond with the list checked by
examiner. and a count Of the current days
cash and checks in the hands Of the third
teller tAlvordl revealed shortage OF 100000
The shortage seems to have been about
100000 two years ago and has been
increased gradually since that time, the teller
concealing the same in the morning additions.
which always amount TO much more than the
amount Of his shortage and never enter Into
the count OF the preceding days cash There
is no way 10 have a check on the morning nd
ditons TO the exchanges except by counting
the note teller's cash and checks twice or 10
begin examination of cash in the evening.
which Is otherwise Objectionable.
THE bank has charged out the amount Of the
shortage without imparing its surplus or un-
divided profits account further examine
tion Of Alvords accounts by the officers Of
the bank shows that lis stcalines have bccn
going on for several years. Fourteen months
ago he took two weeks vacation. and an e1-
animation Of his tickets preceding his going
and after his return, shows that he covered his
shortage while absent by making number Of
charges TO out-oi-town accounts, and credited
back the amounts on his return before the
monthly statements were sent out The amount
Of his shortage at various periods in tho rast
seems to have gone up and down. and IT Is prob
able that this is due 10 the fact that whenever
he had reason TO expect any Investigation Of
his cash or periodical visit from the examiner
he would doctor it by means OF these false
charges against large accounts In the pres
ent instance the examiner went into the bank
amonth ahead of the usual ak months period
tho last preceding examination having been
made May 49, 1900, and this unexpected visit
prevented n manipulation OF the figures by Al
word, and led to n dlsCOvC'y Of the dcfalcation
This theft could probably have been pro
vented by rotation Of the clerical force of tho
bank thus placing each department under
the supervision Of different persons succcssivey
There is no way accurately 10 check the accounts
Of an empoy GO ifhc has access TO the succeeding
day cash from which & O make good his shortage
Of the current day (and this is what Alvord has
always had), and has also the opportunity IN
hold back credits for longer time than the day
on which the letters enclosing items are re-
ceivcd
TALK OF REsTITUTIoN And SURRENDER
Some Of those who read the Deputy Comp
troller's statement expressed the opinion that
Alvord probably carried away with him
very large lot Of cash ont Of the last mornings
mail that he opened. II seemed 20 them ess
likely that 20 large n shortage az one approx
mating SOn0OJj was carried along and CON
Cealed from day 70 day In the manner speci-
fled for considerable time with the daily ey-
re 'tation Of making good ont Of the morning
mail, than that Alvord. apprehendinR detec-
tion. should at the last have grabbed what
ever was in sight leaving the bank TO add
this last large item to whatever previous aE-
cregate shortage had accrued and putting
himself IN position 20 orer TO disgorGe the
last lot on the best terms he could make.
But on the other hand a banker who had
looked into the matter said that II was prac-
tically a. easy for Alvord to carry along and
conceal an enormous shortage a. n little one.
II was stated on what seemed TO be satisfactory
authority yesterday that he did pocket a very
pretty sum just before he decamped: namely
So 600 in cash which he got in one remittance
from an out-of-town bank received on the morn
ing Of tho day he disappeared. As TO nego-
tiationS the bank stated yesterday that while
II would recover everything II could TO which
II was legally entitled, II would not enter into
any arrangements looking to the compound
ing OF n felony. II AlYOrd took at the finish
a mere handful like sGuu11. he probably did II
with a view TO having ~omtready money handy
The reporters who tnlknd Yesterday with
ANord's counsel, Jacob Miller. rot the i'm
precision that n schedule Ot Alvords presen'
possessions j. being prepared with u view 10
the OtieT of such restitution a. they viii amount