Inventory  of  stock,  Dec.  18— $100,795  21

Invoices  of  purchases  since  to  date  of  fire 2d3,695  64

Labor  account,  paid  hands  in  that  time 87.6ft9  53

Total  stock $miT9  43

DEDUCTIONB.
Sales  per  merchandise  account $393,763  98

Loss,  profits  10  per  cent 39.376  39

Cost  of  goods  sold $354,387  59

Value  of  salvage 28,586  35

Shrinkage  on  invoices 8,990  61

$391.064  55

Total  loss  claimed $60,214  88

CONTRIBUTION.
S6190.  In  making  up  the  contribution  for  payment  of  the
claim,  those  six  companies  the  policies  of  which  contained  the
word //on/ were  deemed  specific,  and  the  eight  policies  without
the  word /row/  were  deemed  general.  The  third  English  rule,
where  specific  and  average  policies  are  interested  in  the  same


ADJUSTMENTS  OF  LOSS.  705

Statement  X. — Cortlnubd.
>98y  was  applied.  The  specific  policies,  so  termed,  were
lulcted  in  their  full  amounts,  and  the  general  made  a  salvage,
hus —


#


Six  specific  pcOides  coyering  $25,000,  pay $25,000  00

Eight  general  "  "  43,000.    "   85,214  88

Total  loBB $00,214  88

In  this  connection  it  will  be  noted  that  an  error  of  $3,-
79.67  was  made  against  the  companies,  in  the  estimate  of
profits,  which,  at  ten  per  cent.,  would  be  $35,796.72,  instead
f  $39,376.39.
3191.  Bj  this  adjustment  no  injury  was  done  to  the
nsured,  as  he  received  the  full  amount  of  his  loss,  and  some-
hing  more ;  but  the  specific  companies  were  made  to  paj
nore  than  their  pro  rata  share.
This  injustice  and  the  error  in  estimating  the  profits,  which
he  insured  declined  to  correct,  came  very  nearly  resulting
n  a  law-suit ;  but  it  was  finally  compromised,  leaving  an  ill*
eeling  among  the  parties.
