The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-02-07
Organ Dealer Durand, of Port
land, Flees From Justice.
FORGED TO CONCEAL LOSSES.
Got Money Under False Pretenses
and Invested in Real Estate.
Merchant Luckey, Who Disappeared
From Eugene, Turns Out an Alb.
sconder-Yakinaa Homicide Convicted
Oregon Farmer Elopes With Widow

PORTLAND, Feb 6.-It was reported to-
night that warrant had been issued for
the arrest of Z. D. Durand,s president of
the Durand Organ and Piano Company,
of this city, on charge of forgery Du-
rand is supposed to have left the city last
Friday night, and his whereabouts are un-
known at present. About ten years ago
Durand came to this city from st. Louis
and engaged in the business of selling
organs. He was very successful,
and about two years ago he or
ganized the Durand Organ and Piano
Company, with a capital stock of 100000.
This was afterward increased to $200, 600
The company engaged extensively in the
business of selling musical instruments,
and had agents out all over the country
renting and selling organs and pianos.
They also sold the stock of the company
on plan substantially as follows: The
buver would give his note of hand for
$1,000 on the promise the note would not
be disposed by Durand, but would be kept
IN his possession and renewed at its
expiration if desired. The dividends
arising from the profits of the company,
which it was made TO appear would be
large, could be applied by the stakeholder
In payment for the instrument ne had
bought and also applied TO his note.
About 100000, it is thought, was thus
raised III notes.
AS soon as Durand obtained these notes
he would either sell them or Keep them as
collateral to borrow money On. In many
instances he paid the interest. upon them
himself in order to keep the promissors
from learning that they Ehad passed
into other hands. The money thus raised
Durand used mostly in real estate specula-
tions, which did not turn iout as he an
ticipated. He soon become pressed, and
IN order 10 obtain money would pay a
heavy rate OF interest, giving the stock
holders notes as security, and it is charged
that he went so far as to forge names to a
large number of notes, the amount of
which is not yet known.
Matters thus continued until a few DAYS
ago, when attachment suits were brought
to collect some of the notes that had passed
into the hands of third parties. This pre-
cipitated matters, and those who had first
mortgages on his real estate and stock fore
closed them. Other creditors gathered up
all the promissory notes in existence,
in order to secure themselves from
presented for payment and have been
pronounced forgeries. 1t is not known
just how much money Durand succeeded
in raising in this manner. but it is thought
at present that it will reach the sum of
100000. His operations were mostly in
this city, Clackamas county and in the vi
cinity of Vancouver, Wash. The payment
of the notes will fall heavily on some of
the givers, taking in several instances all
they possess.
1t is thought that Durand invested al!
of the money in real estate, and that he
has not cent at present. Durand is a
man of middle age and a very fluent
talker, and, as one of the victims ex-
pressed it, he could make man believe
white was black.
He was member of the Reformed Pres
byterian church, from which he has been
expelled since this affair has come to
light.