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Copy of History of the Hudson Bay Company
Transcript of Copy of History of the Hudson Bay Company
History of the Hudson Bay Company
1728: The voyageurs already have an inland water route from Montreal to Lake Superior. This inland route impacts on the British Fur trade, which is centred along the shores of Hudson Bay. As a result, HBC reduces its price for example, The Quebec traders price for one blanket is 10 made-beaver pelts while HBC’s price is 7 made-beaver pelts.
Early 1900s: Hudson's Bay continues expansion
by building a chain of stores in western Canada.
2000: In November HBC the online world and made a website that provides information about the Company & enables online shopping.
1666: French Explorers Pierre-Esprit Radisson and Medard Chouart travel to London with tales of rich and get sponsorship of prince Rupert, cousin of King Charles ll.
1670: Four years later they bring their first cargo of fur to England from Hudson Bay region.
-May second, 1670: King Charles grants "the governor and company of adventurers of England Trading into Hudson's Bay" a monopoly/purchase over the vast region whose rivers end at Hudson Bay.
1686: Soldiers from New France attack outposts and gain control of the trade. when the war ends the posts are returned to Britain.
1690: while searching for a new first nation trading
partners, Henry Kelsner uses the Northern shore to
lake Winnipeg as his main base for travelling.
1756: The seven Years war 1756- 1763 reduces the demand for furs in british forces commanded by general James Wolfe to defeat french garrison of Quebec
1668: HBC's Share of the fur trade continues to decline due to competition from Montreal
1779: After a century of building forts and exploring and trading island and northward , the company gets a company gets a competitor: the north west co of Montreal.
1780: The iconic Hudson Bay point blanket is produced for the first time,
1795: HBC's establishes Fort Edmonton ; William Tomison chooses the location of Fort Edmonton at the junction of the North Saskatchewan and sturgeon rivers. it is close to the north west company post, 1830 Fort Edmonton is relocated upstream.
1811: in the late 1700’s thousands of Scottish highland farmers are evicted from their farms in Scotland known as clearances” the wealthy land owners want to turn the farmland into pastures for their sheep
• Some settlements were placed at Red River for some of these displaced families.
• Lord Selkirk’s plan appeals to HBC because?
• Granting the land to Selkirk indicates that HBC owned it I the first place.
• Existence of a colony –good fit with 1821:
• HBC and North West Co. merge under the Hudson's Bay name, with 173 trading posts in 7.8 million square kilometers of land. the company’s plan to increase its activity inland from Hudson bay
• Enable employees to replace expensive imported food cheaper locally-grown supplies.
1869: The Company’s territory, Prince Rupert's Land, is turned over to the government of Canada, in exchange for Prairie land and 300,000 pounds in cash.
1889: Smith pushes land sales. Morgan plans to relocate business in Montreal.
Smith realizes that the future of HBC lies in the expansion of the railway systems and agricultural land use.
1913: Monday august 18th, 1913 a six story height makes it is the tallest building in the city appears that HBC builds the first of the modern department stores in Calgary, at the corner of 7th avenue SW & 1st street.
1930: beaver in Northern Quebec are
disappearing and as a result the Cree are starving.
1960: The Company begins eastward expansion by taking over Montreal-based Morgan's department stores, converting Ontario locations to The Bay banner but leaving Quebec stores as Morgan's until 1972.
1981: The west Edmonton Mall opens as the largest enclosed mall in the world, so big
some stores have to have 2 location in the mall.
2006: Jerry Zucker, an American millionaire acquires HBC for CAN $1.13 billion. Upon his death in 2008 his window, Anita Zucker becomes the first female governor in HBC history.
2012: HBC releases a quantity of shares to the public & rejoins the Toronto stock exchange.
- Beavers hats very popular, high demand for furs
-beavers were extinct
- Trading posts established at the mouths
of each major rivers
- Lord Selkirk purchases 74 million acres
of land from the HBC for 10 shillings,
for thousands of Scottish farmers who were evicted
from their farms in Scotland.
• The oldest corporation in Canada
• Oldest in the world and still had existence
• At York factors on Hudson Bay it controlled the fur trade
• Controlled most of North America for centuries
• The late 19th century its vast territory became the largest component in the newly formed dominion of Canada.
• This company was the largest
• Decline of fur trade
• Company evolved into mercantile
business selling vital goods to settlers in
the Canadian West.
• Today, Company is best known for
its department stores