The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1892-02-03
The Hudson Bay Company as
tits.

In ISL all hecolonies Of Canada were
confedsrated, and whatever presumptive
rights the Hudson Bay Company got un-
der Charles lis charter we're vacated
in consideration Of payment by Canada
of s.. 100000 cash, half Of all surveyed
lands within the fertile belt, and 10000
acres surrounding the companyis posts.
It is estimated that the land grant
amounts TO seven millions of acres, worth
twenty millions Of dollars, exclusive Of
all town sites.
Thus we reach the present condition
Of the company, 2S0 years old, maintain
ing 200 central posts and unnumbered
dependent ones, and trading in Labrador
on the Atlantic at Msssett, on Queen
Charlotte Island, in the Pacific and deep
within the Arctic Circle in the North.
The company was newly capitalized not
long ago with 100000 shares at $50 ten
millions Of dollars, but, in addition ID
its divid ends, it has paid back seven
pounds in every twenty, reducing its
capital 10 el 10000. The stock, howev-
er, is quoted st its original value. The
supreme control Of the company is vest
ed in q governor, deputy governor, and
five directors, elected by the stockholders
in London. They delegated their pow
ers toan executive resident in this coun-
try, who was until lately called the "Goy-
ernor Of Rupert's Land" but now is
styled the chief commissioner, and is in
absolute charge Of the company and all
IFS operations. His term Of offics is IN
limited. The present incumbent is Mr..
J. Wrighley, and the president is Sir
Donald A. Smith, one of the foremost
spirits in Canada, who worked his way
up from clerkship in the company
The business of the company is managed
on the outfit system, the most old-fogy-
ish, vet by It's officers declared TO be the
most perfect plan in use by any corpora
ton. The method is to charge against
each post all the supplies that are sent
to it between June lst and June lst each
year, and then TO set against this the
product Of each post in furs and in cash
received. Ii used to take seven years to
arrive al the figures for given year, but,
owing to improved means Of transporta-
tion. this is now done in two years.
Almost wherever you @ in the newly
settled parts osthe Hudson Bay territory
you find al least one free traders shop
set up in rivalry with the old company's
post. These are sometimes more store
houses FOR the furs, and sometimes they
look like, and are partly, general country
stores. There can be no doubt that this
rivalry is very detrimental 10 the fur
trade from the stand point Of the future
The great company can afford TO miss
a dividend, and can lose at some points
while gaining at others, but the free trad
ers must profit in every district. The
consequence is such a reckless destruc-
tion Of game that the plan adopted by Us
for our sesl-fsheries--the .easehold sys-
tents envied and advocated in Canada.
a greater proportion Of trapping and an
utter unconcern for the destruction ofthe
game at all ages are now ravaging the
wilderness. Many districts return as
many furs as they ever yielded, but the
quantity is kept up at fearful cost by
the determination Of the game. On the
other hand, the fortified wall Of posts
that opposed the development Of Canada,
and sent the surplus population of Eu-
rope 20 the United States, is rid OF its
palisades aud Geld-pieces. and the main
strOngholds Of the ancient company and
Its rivals have become cities. The old
fort on Vancouver Island Is now Victoria
Fort Edmonton IS the seat Of law and
commerce in the Peace River region old
Fort William has seen Port Arthur rise
by its side Fort Garry is Winnipeg;
Calgary. the chief city Of Alberta, Is on
the site Of another fort; and Sault Ste.
Marie was once a North west post.
Bat civilization IS still 50 far of from
most Of the factories" as the company's
posts are called, that the day when they
shall become cities is in no mans thought
or ken And the communication be-
tseen the centres and oatposts is, like
the life Of the traders, more nearly Ike
what it was in the odd, old days than
mos Of my readers would imagine.
-HHFr's Magazine.
Backing up an opinion freQsealy i'm
plies getting on's back % as weE