Prince of Wales Fort was at one point called Churchill Factory or Prince of Wales Factory.Īfter trapping during the fall and winter when beaver pelts were of the highest quality, in the Historic place names such as Moose Factory and York Factory indicated the “factor” or chief trader of the area resided there. In Rupert’s Land, each factory (trading post) was commanded by a chief factor (trader) and his council of officers. The General Court also appointed a governor to act on their behalf in the bay area. The London-based governor and committee set all the basic policies implemented in Rupert’s Land, basing their decisions on annual reports, post journals and account books supplied by the officials Order trade goods, hire men and arrange for shipping. At the annual General Court (Annual General Meeting in today’s terms), shareholders elected a governor and committee to organize fur auctions, Unlike most contemporary trading concerns, the HBC evolved as a joint-stock company with a centralized bureaucracy.

This vast region was named Rupert’s Land. Wide powers, including exclusive trading rights in the territory traversed by rivers flowing into Hudson Bay. The “Governor and Company of Adventurers of England trading into Hudson Bay” were granted Proclaimed on ( see Voyage of the Nonsuch). The first ships, the Eaglet and the Nonsuch, were dispatched on 3 June 1668 and the royal charter was King, several merchants and noblemen to back the venture. After failing to obtain French support on their terms, they went to England in 1665 and interested Prince Rupert, cousin of Charles II. In the 17th century, the fur trade emerged as a major commercial enterprise in North America due to European demand for felt hats made from beaver fur.įrench traders Médard Chouart des Groseilliers and Pierre-Esprit Radisson were the first to propose a trading company to reach the interior of the continent via Hudson Bay and gain easier access to the fur resources of the interior ( see Fur Industry).

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