Jasper County Democrat, Volume 3, Number 31, Rensselaer, Jasper County, 10 November 1900 — THAT $700,000 THIEF. [ARTICLE+ILLUSTRATION]

THAT $700,000 THIEF.

The New York Note Teller, Alvord, Now Under Arrest. The defalcation of Cornell ua L. Alvord, Jr., who appropriated $700,000 of the funds of the First National Bank of New

York, once more illustrates the facility with which the trusted employe of a financial Institution can hoodwink his employers and the national- bank examiners. Alvord was a trusted official. He entered the employ of the First National in 1879, serving until the expoee

of his defalcations as note teller. During this period he held the absolute confidence of the bank president and of the other officials of the institution. In Mount 1 ernon, where be had a permanent home, he was looked up to as a model citizen. He and his wife moved in the most exclusive circles and enter tained with lavishness. No word was ever uttered against the honor and the honesty of the man. And yet this trusted official stole $700,000 of the funds of the bank. His peculations extended over a long period, and though the affairs of the bank were at stated periods examined by national experts no discovery of crookedness was made by them. It remained for an humble employe of the bank to have his suspicions aroused and then came the investigation that resulted In the startling disclosure. “I have played and lost. I’ll take the consequences.” Thus coolly did Alvord take his arrest when he was run down in a lodging house In Boston. Betrayed by two friends for the sake of the $5,000 reward offered by the bank for his capture, Alvord was located.

CORNELIUS ALVORD.