The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-10-18
(hdverIser1ent.l
THE INSURANCE QUESTION.
To the Editor Of the Bulletin:

To the Editor Of the Bulletin:
Ny attention has been called to an advertise
ment in your evening issue Of yesterday, signed
by one 3. A. Durand, purpOrting to be an explain
alton of the Bayly Il Pond case.
| This advertisement is OF the most malicious
| character and tissue of lies.
Imade out the claim Of Messrs. Bayly Pond
with the assistance of E. B. Briggs. ESQ, That
claim is sustained by the books, its form and
character Endorsed by every leading house in the
trade, and it was made after consulting with eight
Of the leading houses assimlating in their bns-
ness to that Of Messrs. Bayly & Pond.
! 1t is false that three statements of loss were
presented. each one differing from the other.
great desire was expressed to know the ex-
tent Of the loss, and at the time mentioned June
1s the settlement Of the loss Isl barrels of
liquor was undetermined, this very individual
having refused to abide by the decision OF the
| gentlemen called by himself and others to make
| the appraisement.
A disgraceful dispute over these goods was con-
tinued for over q week, and finding it useless to
wait longer, handed the claim to Messrs. Bayly
Bond as it then existed. stating that there were
some matters still undetermined, Of which the
Insurance Committee were fully aware, and this
fact was written on the statement and the state
ment handed, with this understanding, to the
Committee.
When the disgraceful dispute over the ISL bar
rels ceased, and the goods had been sold at auc-
ton and the result known. tho final account with
few items in favor Of and against the firm de-
veloped i'll the lnterval) was made out and pre-
scented.
The figure Of 10 per cent gross profit is sus-
tanned by the books and supported by every lead
ing house in the trade, and the insinuation that
the stock produced by this figure was 500, 900
more than the stock Of any previous year is
gross, malicious misrepresentation Of facts.
The stock OF every previous year inventoried
on the LIST OF July was always the result Of
twelve months business. As the stock in and
out of store at the time of the fire, May 49, was
say s259,OOO the result of not quite eleven
months business, it is evident that as the sales
average between s125 600 and $50, 900 per month.
that if the business had gone one month
longer, at least s100O 900 would have been sold
out OF the 1900, and the stock would have
been less than for several years on the LIST of
July.
The intimation that the result Of the examina-
ton by the Underwriters disproves Messrs Bayly
& Ponds clam is false. 1t is well known that the |
experts employed by the Underwriters have ex-
presley declared that they were not the adj
justers of this claim They merely took the |
average cost Of article after mixing all grades
together, and then took the average selling |
prices found Of the a. ticle in an imperfect set Of
BLoTTERs Zone book Of $40 pages being destroyed) |
as near as they could get, without knowing the |
quality in each case of the goods sold, and they
have EXPRESSLY declared there were other profits
the extent OF which they were not authorized to |
determine.
Every leading house in the trade have declared
that the process adopted by the committee of
Underwriters to find the stock in wholesale
grocery establishment is erroneous. And as
further evidence Of the unrelability Of such
process two Of our local companies after full
of the claim, have settled it in full |
while ma Ority Of the others have expressed a
Willingness to settle upon q basis of S16O,uOO,
leaving the balance to further adjustment.
70 show the true character OF this fellow l
will state that he told me as q secret Ito which
secrecy would not bind myself that Messrs.
Bayy & Pond had vitated their policies by
having large quantities OF extra hazardous ar s
tlces In their store and that he did not want it
known, and was willing to settle upon the basis of
eight per cent. gross profit, which he positively ,
stated he knew was q very low figure. am sat i
sfe3he knew better and therefore lied when he !
stated he knew they had these hazardous articles
IN hand and made the statement believing ,
night think it was true and influence Messrs. !
Bayly q Pond to settle at once.
The lntlmatiOn that Messrs. Baylv Il Ponds
books are not properly kept. that they guilty =
II any illicit traffic that the trade are engaged
q anything dishonorable dishonest sc far as I
anow is malicious, and the extracts from b. NJ.
Ponds testimony is to my knowledge garbed, and !
'equlres the whole and the explanations that :,
we're given at the time to be properly understood.
In conclusion will add that, as Messrs. Bayly
Pond are compounders, and reduce proofs and
,ut up box liquors, the attempt to make it appear
hat they are engaged in dishonorable or dis. !
honest practices is contemplate. and as infer
he '.North British has been tabooed by our
merchants, they have acted wisely in refusing
'ohcles in company employing any one who r
Fould so grossly misrepresent the legitimate
aims on weights and gallonages realized by the
rade.
Messrs Bayly 4 Ponds stock in the stores s
urned amounted in round numbers to s24O, COO,
bout $4,000 being st red elsewhere. The saw
lSs reduced the loss to S1S1, COS 05. A
The honesty Of the claim will not be questioned
y any honest person who will investigate the
ubject, and after realizing the character of o
Durand's' statements and base insinuatlons, n
he public will understand some Of the difficult p
les Messrs. Bayly Il Pond have been obliged to ii
Ontend with in a settlement of their claim not n
their having been sustained in O
haracter and proceedings by the mercantile t.
Of
W. VAN BENTHUYSEN.
New Orleans, Oct. Is, 1874.