New-York tribune., 1909-04-17
C. L. ALVORD RELEASED
HIS RECORD BANK THEFT.
Sentence of Thirteen Years for $780,
900 DefaIcati0n Reduced.

Cornelius L. Alvord sentenced on January IS
1901 to spend thirteen years in Sing sing Tor DEL
alcations from the First National Bank amounting
to $4,000 released from prison at Sing Sing
yesterday, good behavior having won for him
reduction Of time.
Alvord told the prison officials that he was gong
to Hudson. n Y and left so quietly that almost
taken Of his deDarture- 1t IS supposed
that he went to Stockport. Columbia County near
Hudson, where his family is living house was
built him there recently by his wife and his
brother, William, a well known citizen OF Stock
port and former Sheriff of Columbia County.
His wife and children have been we'll provided
for during his Imprisonment and il is thought that
his brother. who is well to do furnished the neces-
sary funds for their support and for the building
of house.
The Alvord defalcation the largest ever sur
fered by New Ycrk bank. Comparing with 1t
the theft of 1854 900 from the National Shoe
and Leather Bank in 1894 by Samuel G. Seely and
Frederick Baker and the theft of $4,000 from the
Mercantile National Bank in 1880 by E. o ousley.
Judge Thomas. of the United states circuit
Court, sentenced him TO eight years IN prison Tor
the theft and TO FIVE years for falsfyins clearing
House entries one of the means Of covering his
defalCatons He a note teller or lhe odlih
with a salary between $500 and 5000 year. ana
his defalcations went on for years oeioIe tley
were discovered During this time he hNed IN
Mount Vernon in manner, he himself said
after his arrest calling for an income OF $''''
a year
The detection of his crime came about through
accident. clerk had happened to notlce AlNoru
making alterations the Clearing House sheet ana
late in the afternoon of October IS, 1900 after Al
word had gone for the day, casually mentioned 'he
circumstance to c. D. Backus. the assistant cash
ier who is now cashier Mr.. Backus. without sus
pecting that anything was wrong, looked over Al
words balances and discovered several dlscIep
srcies S1Inlnoning as many clerks as renamed
in the bank that late hour, he went over lI'e
books in detail and in few hourS nau
found overwhelming proof of Alvords gult
Alvord. it was subsequently learned retuIheu ~
the bank early in the evening, his suspicious nav
ing been in some way aroused. Seeing me CLERKS d
work on his books he realized that MS CRIME ndu
been uncovered. AIvord disappeared. and was not
arrested until October 29. when he was fouhd III
. c,aa, boarding house in Boston. He admitted
his defaIcation and said he was glad the suspense
was
The method by which Alvord was enabled 70
effect his stealings vas thus explained oS 'ne
banks officers:
"One of AIvord's duties was to collect drafts and
rotes not payable throig the Clearing House con
siderable part OF them usually being paid IN cash'
He appropriated a portion OF this cash from ule 10
time as opportunity offered before any OF IL was
turned over to the money clerk. The discrepancy
was concealed by adding the item Of exchanges
for the Clearing House on the note teilers balance
book an amount equal TO the sum OF the aoSlido
tons
This system was said by an officer Of the bank to
he absolutely novel IN the history OF the local banks
To pursue il required constant vigilance on the
mart OF AIvord and FOR years he had been absent
scarcely day from his desk. lie had taken a two
weeks vacation fourteen months prior to the dscoV-
cry Of the defalcaton. and, as learned afteTNaru'
had covered his shortage while absent by making a
number Of charges to out-of-to"n accounts t'eu''
ing back the amounts his return. before ue
monthly statements were sent out
AIyord never accounted for tho missing money
1t is great deal Of money he said. but money
goes fast when one is living AT the pace have
followed" After his arrest Ayord said tfat ne
had lost good deal OF money In betting on inc
races using poolrooms. however and not the book
makers a tho racetracks No restitution was n-iae-