New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-11
.ALVORD, BANK THIEF, DIES
Served 8 Years for Stealing
S69O,OOO from First National.
ROBBED FOR FIVE YEARS
Fled on Eve of Discovery, but
Was Caught in Boston
Returned S12, 600.

| Cornelius L. Alvord, VINO served elshI
years in prison for embezzling $69O,OO
from the First National Bank of New
York. died late Monday night at his home
in Stockport. \. Y. lie was sixty-four
wears old ana had been i'll for some time
! from a complication OF diseases.
! He had lived quietly ever since his re-
/ lease from prison, and whether he re-
tanned any portion Of the large sum when
ne had stolen was not known by his
ncighbors. At the First National Bank
yesterday officials said they had no idea
of the financial condition Of their former
, employe. and that ne had returned only
! Si2, 600 OF the $4,000.
| AIvord left WIFE, two daughters and a
SON His funeral will be held at his home
in Stockport to-day.
| Alvord was note teller OF the bank from
! thcfts more than five years before he
was found out. He foresaw the dis
covery and fled 10 Boston in October. 1900.
lie was arrested in that city In the same
month. He was sentenced to thirteen
years Imprisonment, but was able TO cut
| five years off this time by good behavior.
| Alvord was released from Sing Sing for
| good behavior on April 10, 1909, after
serving eight years OF thrteen-year
term imposed for defalcations from the
! First National Bank, of New York city,
/ amounting to $500 900. The Alvord de-
/ falCatlon was the largest ever suffered by
! New York bank. Comparing with II
were the theft of S354,0OO from the Ma
tional Shoe and Leather Bank in 1894 by
Samuel c. Seely and Frederick Baker, and
the theft of $4,000 from the Mercantile
National Bank In 1895 by h. o. Qugley.
| Judge Thomas, of the United States
! Circuit Court. sentenced him to eight
! years in prison for the theft and to five
| years for falsifying Clearing House en-
tries, one Of the means of covering his de-
| falcation. lie was "A note teller of the
! bank, with "A salary between $500 and
| so. 600 "A year and his defalcations went
on for years before they were discovered.
! During this time he lived In Mount Yer
non In manner as he himself said after
his arrest. calling for an income OF $780,
| 600 n year
The detection Of his crime came about
| through accident clerk had happened
to notice Alyord making alterations on
, the Clearing House sheet, and later in the
afternoon Of October IS. 1900. after Al
/ word had gone for the day. casually men
! toned the circumstance 10 &. ID. Backus,
| the assistant cashier. who is now cashier.
/ Mr.. Backus. without suspecting that any
| thing was wrong. looked over Alvord's
| balances and discovered several discrep-
ancics. Summouing as many clerks as re-
| mained in the bank at that late hour. he
went over the books in more detail. and in
few hours had found overwhelming
| proof OF Alvord's guilt.
Alvord. II was subsequently learned. re-
turned to the bank early in tho evening,
his suspicious having been In some way
aroused. Seeing the clerks at work on
/ his books. he realized that his crime had
been uncovered. Alvord disappeared. and
was not arrested until october 30, when
/ he was found in a cheap boarding house
| IN Boston. He admitted his defalcation
and said he was glad the suspense was
over.
| The method by which Alvord was en-
/
planned by the banks officers:
"One Of Alvord's duties was to collect
drafts and notes not payable through the
| Clearing House. "A considerable part Of
/ them usually being paid In cash. He APP
I propriated a portion Of this cash from
| time TO time as opportunity offered, be-
| fore any Of il was turned over to the
money clerk. This discrepancy was CON
cealed by adding 10 the item of exchanges
| for the Clearing House on the note tel
ler's balance book an amount equal TO tho
sum of the distractions"
This system was said by an officer Of
| the bank TO be absolutely novel I'm the
| history OF the local banks. To pursue Il
required constant vigilance on the part Of
Alyord. and for years he had been absent
scarcely a day from his desk He had
taken n two weeks vacation fourteen
months prior TO the discovery of the defal-
cation. and. as learned aftprward, has
covered his shortage while absent by max
| ing a number OF charges to out -of-town
accounts. crediting back tlfe amounts on
his return, before the monthly statements
were sent out
Alvord never accounted for the missing
money. 1T is q great deal Of money" he
, said, "but money goes fast when one is
living Mt the pace have followed" After
his arrest Alvord said that he had lost
good deal OF money In betting on the
| races, uslng poolrooms. however. and not
| the bookmakers at the Tacetracks.
The dead convict was a nephew of
Thomas g. Alvord, OF Syracuse former
Lieutenant Governor Of New York State
and several times Speaker of the Assem-
bly,. His brother. William. il wealthy
business man OF Stockport. He also leaves
a wife and three children.
Immediately after his release from
prison he went to Stockport, where his
wife and brother had built house for
him. There he spent the rest of his life.
His brother took care Of his wife and chill
dren during his imprisonment. and after
his release he lived largely on his broth
er.s bounty.