The sea coast echo. [volume] (Bay Saint Louis, Miss.) 1892-current, 1892-04-16
THE HUDSON BAY COMPANY.
Information Concerning This Gigantic
Corporation.


Information Concerning This Gigantic
Corporation. ~
In 1871 all the colonies of Canada
were confederated, and whatever pre-
sumptive rights the Hudson Bay Co.
got under Charles IL.'s charter were
vacated in consideration of payment
by Canada of one and a half million
dollars cash, half of all surveyed lands
within the'fertile belt, and fifty thou
sand acres surrounding the compauy's
posts. It is estimated that the land
grant amounts to seven millions of
acres, worth twenty millions of dol
lars, exclusive of all town sites
Thus we reach the present condition
OF the company, two hundred and thir-
ty years old, maintaining two hundred
central posts and unnum bered depend
ent ones, and trading in Labrador on
the Atlantic; at Massett on Queen
Charlotte island, in the Pacific; and
deep within the Arctic circle in the
north. The company was newly cap
ltalized not long ago with one hundred
thousand shares at twenty pounds (ten
millions of dollars), but, in addition to
its dividends, it has paid back seven
pounds in every twenty, reducing its
capital to one million three hundred
thousand pounds. The stock, however,
is quoted ut its original value. The
supreme control of the company is
vested in governor, deputy governor,
and five directors, elected by the stock
holders in London. They delegated
their powers to an executive resident
in this country, who was until lately
called the governor of Rupert's
Land" but now is styled the chief
commissioner, and is in absolute
charge of the company and all it's op-
erations. His term of Office is unlim-
itei. The present incumbent is
Mr.. j. Wrigley, and the president is
Sir Donald A. Smith, one of the fore
most spirits in Canada, who worked his
way up from a clerkship in the COM
pany. The business of the company is
managed on the outfit system, the most
old-fogyish, yet by its officers dec lared
to be the most perfect, plan in use by
any corporation The method il to
charge against each post all the sup
plies that are sent to it between June
1st and June 1st each year, and then to
set against this the product of each post
in furs and in cash received. 1t used to
take seven years to arrive at the figures
for given year, but, owing to i'm proved
means of transportation, this is now
| done in two years.
Almost wherever you go in the new
ly settled parts of the Hudson bay ter
ritory you find at least one free traders
shop set up in rivalry with the old
| company's post. These are sometimes
mere storehouses for the furs,. and
sometimes they look like, and are part
| ~, general country stores. There can
be no doubt that this rivalry is very
detrimental to the fur trade from the
standpoint of the future. The great
company can aft >rd to miss dividend,
and can lose at some points while gain
ing at others, but the free traders
must profit in every district The con-
sequence is such a reckless destruction
OF game that the plan adopted by us 70,
our seal-fisheries-the leasehold system
lis envied and Advocated in Canada
A greater proportion of trapping anC
an utter unconcern for the destruction
OF the game at all ages are now ravag
ing the wilderness Many districts re
turn 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 wal
OF posts that opposed the development
of Canada, and sent the surplus popu
lation of Europe to the United States
is rid of its palisades and feld-pieces
and the main strongholds of the ancien
company and its rivals have becom,
cities The old fort on Vancouver isl
and is now Victoria; Fort Edmonton il
the seat of law and commerce in tn,
Peace river region; old Fort William
has seen Port Arthur rise by its side
Fort Garry is Winnipeg; Calgary, tn,
chief city of Alberta, is on the site O.
another fort, and Sault Ste. Marie wa.
once northwest post.
But civilization is still so far off from
most of the factories" as the com
pany's posts are called, that the da,
when they shall become cities is in n,
mans thought or ken. And the com
munication between the centers ant
outposts is, like the life of the traders
more nearly like what it was in th
old, old days than most of my readers
would imagine. Julian Ralph, in Har
Ier's Magazine.
Silk Innings for Skirts.
Very few women who can afford i