I think that M.D. Christian is most likely correct, in that the name is "Bayard". Nicholas Pieper the well knowm Belgian gunmaker, patentee of the Mono-block breech, took over the Bayard Steel Works circa 1900. The word Bayard surmounted by a horse with rider became a Pieper trade mark for their steel products. It is usually found on the barrel outside diameter near the breech of shotguns. If this is the only mark on the shotgun it would indicate the use of Bayard steel to produce the barrels.[ie: unlikely to be a gun made by Pieper.]
