206' ASSINMBCOTE AND SASKATCHEWAN EXPEDITION. 



CHAP. XXXIII. 



the Hudson's bay company. 



Incorporation of the Hudson's Bay Company. — Profits of the Company. — 

 The North-West Company of Montreal. ■ — Union of the two Companies. 

 — Profits of the Hudson's Bay Company after the Union. — Proprietors 

 and Stock of the Company. — Administration of their Affairs. — Sir George 

 Simpson. — The Council. — Departments; Districts; and Posts. — Extent 

 of the Administration of the Company for the prosecution of the Fur 

 Trade. 



The Hudson's Bay Company was incorporated in the year 

 1670, under a royal charter of Charles the Second, 

 which granted them certain territories in North America, 

 together with exclusive privileges of trade and other 

 rights and advantages. During the first twenty years of 

 their existence the profits of the Company were so great * 

 that, notwithstanding considerable losses sustained by the 

 capture of some of their establishments by the French, 

 amounting in value to 118,014/., they were enabled to 

 make a payment to the proprietors in 1684 of fifty per 

 cent., another payment in 1688 of fifty per cent., and a 

 farther payment in 1689 of twenty-five per cent. 



In 1690 the stock was trebled without any call being 

 made, besides affording a payment to the proprietors of 

 twenty-five per cent, on the increased or newly created 

 stock ; from 1692 to 1697 the Company incurred loss 

 and damage to the amount of 97,500/. sterling from the 



* See Letter from the Governor of the Hudson's Bay Company to the 

 Lords of the Committee of Privy Coimcil for Trade, February 7th ; 1838. 



