NRA-L-000470 / 1847
Letter from Figueira & Co to Otard Dupuy & Co defending their payments and development of the Philadelphia brandy market, 1847-07-29
Figueira & Co answer criticism of their payment practices, explain capital tied up in duties, credit and unsold stock, report leakage and damage in a delayed cargo, and argue that they have made Otard the leading brand in Philadelphia over Pinet.
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NRA-L-000470
Transcript and readable English text
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Original transcript
Messrs Otard Dupuy & Co.
Merchants
Cognac
France
Address panel
Readable English text
Messrs Otard Dupuy & Co.
Merchants
Cognac
France
Documentary page 2
Original transcript
Philadelphia July 29th 1847.
Messrs Otard Dupuy & Co. Cognac
Gentlemen:
Since our last favour to us we
have had the pleasure of hearing from you through our
mutual friend Mr L'Eachard. We regret however to see that
you show some dissatisfaction in regards to the way our
business is carried on (as you suppose) on your capital.
We have never thought it necessary to make any observa
tions direct to you as we expected Mr L'Eachard would al
ways make you aware of our advantages or disadvan
tages, which operate in the delay or speediness of our Re=
mittances, but as we perceive that you express yourselves
rather strongly we think it necessary to make some remarks.
In the first place we do not do business with your
capital. We are when we settle for your brandy we always
have a large quantity left & we are obliged to keep
in the Custom House a large stock. We cannot with any
certainty calculate how long we may be without receiving
fresh importations, and if we are one week without Brandy
we lose much advantage that we have gained. Our customers
will go to other importers, and it is often difficult to get
Documentary page 2
Readable English text
Philadelphia July 29th 1847.
Messrs Otard Dupuy & Co. Cognac
Gentlemen:
Since our last favour to us we
have had the pleasure of hearing from you through our
mutual friend Mr L'Eachard. We regret however to see that
you show some dissatisfaction in regards to the way our
business is carried on (as you suppose) on your capital.
We have never thought it necessary to make any observa
tions direct to you as we expected Mr L'Eachard would al
ways make you aware of our advantages or disadvan
tages, which operate in the delay or speediness of our Re=
mittances, but as we perceive that you express yourselves
rather strongly we think it necessary to make some remarks.
In the first place we do not do business with your
capital. We are when we settle for your brandy we always
have a large quantity left & we are obliged to keep
in the Custom House a large stock. We cannot with any
certainty calculate how long we may be without receiving
fresh importations, and if we are one week without Brandy
we lose much advantage that we have gained. Our customers
will go to other importers, and it is often difficult to get
Documentary page 3
Original transcript
them back again. Secondly, the Cargo by the Div. Homme
has been of very slow sale in consequence of its not having
arrived at the time that it was anticipated by our customers
many of whom went elsewhere and bought and left us with
this large stock in mid-winter the very dullest season of
the year with us. Of this Cargo we have at least one third
on hand mostly high priced brandies and of course sell
slowly the demands being principally for New brandies: And
Documentary page 3
Readable English text
them back again. Secondly, the Cargo by the Div. Homme
has been of very slow sale in consequence of its not having
arrived at the time that it was anticipated by our customers
many of whom went elsewhere and bought and left us with
this large stock in mid-winter the very dullest season of
the year with us. Of this Cargo we have at least one third
on hand mostly high priced brandies and of course sell
slowly the demands being principally for New brandies: And
Documentary page 4
Original transcript
thirdly we have to pay cash entirely for duties, and sell on
6 months credit; therefore we must do business on other capital
than yours to be able to keep always on hand a stock
of from one to two hundred half pipes, give 6 months
credit for what we sell, and still be able to pay you.
Now at the present time we owe you about $3500 for which
you have not got security, we owed you at one time $9000.
We gave Mr L'Eachard some time ago our note with a
good endorser for $4800 due the 30th proximo and
he holds in his possession bills of Lading for the Div. Homme
to the amount of about $4000. Now, so that we have set=
tled for all we hold we have any control of, yet we have
not before said anything about the disadvantages of getting
the Brandy by the Div. Homme so late, and shipped by you in Bordeaux after
the time we advised and against your positive instructions;
we had to receive also, that some casks lost 10 and 15
gallons, nearly all the packages very badly stained and damaged.
We have no doubt that you think you have just
cause to complain of the tardiness of our payments
but you will please reflect that we have had every diffi=
culty imaginable to contend with, and nothing but extra
Documentary page 4
Readable English text
thirdly we have to pay cash entirely for duties, and sell on
6 months credit; therefore we must do business on other capital
than yours to be able to keep always on hand a stock
of from one to two hundred half pipes, give 6 months
credit for what we sell, and still be able to pay you.
Now at the present time we owe you about $3500 for which
you have not got security, we owed you at one time $9000.
We gave Mr L'Eachard some time ago our note with a
good endorser for $4800 due the 30th proximo and
he holds in his possession bills of Lading for the Div. Homme
to the amount of about $4000. Now, so that we have set=
tled for all we hold we have any control of, yet we have
not before said anything about the disadvantages of getting
the Brandy by the Div. Homme so late, and shipped by you in Bordeaux after
the time we advised and against your positive instructions;
we had to receive also, that some casks lost 10 and 15
gallons, nearly all the packages very badly stained and damaged.
We have no doubt that you think you have just
cause to complain of the tardiness of our payments
but you will please reflect that we have had every diffi=
culty imaginable to contend with, and nothing but extra
Documentary page 5
Original transcript
ordinary exertion could have enabled us to attain the
footing that we now have with your Brandy. We
have had the prejudices of Philadelphians to contend with
and it would perhaps be difficult to find a place where
prejudice is more strong in every way. When we commenced
your Brandy was known but by very few buyers in this market
now it is known by every body, and we say to you em=
phatically that it is now the brand before all others, the
glory of Pinet has departed!
Documentary page 5
Readable English text
ordinary exertion could have enabled us to attain the
footing that we now have with your Brandy. We
have had the prejudices of Philadelphians to contend with
and it would perhaps be difficult to find a place where
prejudice is more strong in every way. When we commenced
your Brandy was known but by very few buyers in this market
now it is known by every body, and we say to you em=
phatically that it is now the brand before all others, the
glory of Pinet has departed!
Documentary page 6
Original transcript
We consider that it is greatly to your interest to facilitate
our business as much as you consistently can, for the greater
our advantages the more we can do for you; particularly
as we sell your always secured and safe. We believe
you have now less reason to apprehend our promptness
in paying for what we get than heretofore, for the
credit we have now is much greater, and besides we
can assure you that we are not entirely without capital
of our own. Had we no capital we could not carry
on this business for a month.
We have sent you orders for 170 half pipes
which we trust will be shipped by the first oppor=
tunity as we will be out of stock in a month or
two; and as we have before observed unless we keep
a good supply on hand, we lose the advantages we
have with so much pain gained over other importers.
We will endeavor, and believe we will hereafter be able
to keep our balances with you satisfactory to all
parties, as we have now got over our greatest dif=
ficulties. That we have been a little slow in our payments
sometimes we are free to acknowledge, but it has been una=
Documentary page 6
Readable English text
We consider that it is greatly to your interest to facilitate
our business as much as you consistently can, for the greater
our advantages the more we can do for you; particularly
as we sell your always secured and safe. We believe
you have now less reason to apprehend our promptness
in paying for what we get than heretofore, for the
credit we have now is much greater, and besides we
can assure you that we are not entirely without capital
of our own. Had we no capital we could not carry
on this business for a month.
We have sent you orders for 170 half pipes
which we trust will be shipped by the first oppor=
tunity as we will be out of stock in a month or
two; and as we have before observed unless we keep
a good supply on hand, we lose the advantages we
have with so much pain gained over other importers.
We will endeavor, and believe we will hereafter be able
to keep our balances with you satisfactory to all
parties, as we have now got over our greatest dif=
ficulties. That we have been a little slow in our payments
sometimes we are free to acknowledge, but it has been una=
Documentary page 7
Original transcript
voidable and we think ought not to have been unex=
pected, when you reflect upon the amount of business we have
done with our small capital.
Respectfully and truly Yours &c
Figueira & Co
P.S.
We do not expect any more
difficulties between us regarding
the slowness of settlement as we believe
we will hereafter be able to make satisfactory remittan
ces for the payment of your invoices Figueira & Co
Notes
Editorial notes: The six letter-text captures form one continuous letter signed Figueira & Co; overlaps and continuations were checked in sequence.
Documentary page 7
Readable English text
voidable and we think ought not to have been unex=
pected, when you reflect upon the amount of business we have
done with our small capital.
Respectfully and truly Yours &c
Figueira & Co
P.S.
We do not expect any more
difficulties between us regarding
the slowness of settlement as we believe
we will hereafter be able to make satisfactory remittan
ces for the payment of your invoices Figueira & Co
Notes
Editorial notes: The six letter-text captures form one continuous letter signed Figueira & Co; overlaps and continuations were checked in sequence.
Discovery Terms
- Cognac trade
- Commercial correspondence
- Brandy market
- Commercial credit
- Payments
- Customs duties
- Cargo damage
- Brand reputation
- Pinet
- Philadelphia
- Otard Dupuy & Co
- Figueira & Co
- United States