Sworn by the above-named William Armit, this third of

September, 1866.

[Notarial}

Before me, SALEM C. HARRIS Notary Public, 24 Royal Exchange, London.

Are prepared to receive subscriptions for the issue at par of Capital Stock in the Hudson's Bay Company, incorporated by Royal Charter, 1670.

The stock will be issued in certificates of £20 each, and the installments will be payable as follows:

£1 being 5 per cent. on application, to be returned in the event of no allotment being made.

4 being 20 per cent. on allotment,

with an option of pre-payment in full on allotment, or on either of the days fixed for payment of the installments, under discount, at the rate of four per cent. per annum.

The capital of the Hudson's Bay Company has been duly fixed at £2,000,000, of which amount the International Financial Society, limited, have obtained, and are prepared to offer to the public, £1,930,000. The subscribers will be en

titled to an interest corresponding to the amount of their subscription in—

1. The assets (exclusive of Nos. 2 and 3) of the Hudson's Bay Company recently and specially valued by competent valuers at £1,023,569.

2. The landed territory of the Company, held under their Charter, and which extends over an estimated area of more than 1,400,000 square miles, or upwards of 896,000,000 acres.

3. A cash balance of £370,000.

The present net income, available for dividend amongst stockholders of the Company, secures a minimum interest, exceeding four per cent., on the above £2,000,000.

The Directors of the Hudson's Bay Company are as under: The Right Honorable Sir Edmund Head, Bart., K. C. B. (late Governor General of Canada) Governor.

Curtis Miranda Lampson, Esq., (C. M. Lampson & Co.) Deputy Governor.

Eden Colvile, Esq., Hudson's Bay House, Fenchurch

street.

George Lyall, Esq., (M. P., Headley Park,) Surrey. Daniel Meinertzhagen, Esq., (F. Huth & Co.) James Stewart Hodgson, Esq., (Finlay, Hodgson & Co.) John Henry William Schroder, Esq., (J. H. Schroder & Co.)

Richard Potter, Esq, Standish House, Gloucestershire.

The Hudson's Bay Company were incorporated under a Royal Charter, by King Charles II., in 1670, by the name of "The Governor and Company of Adventurers of England, trading into Hudson's Bay;" and by the Charter, a vast tract of territory was vested in the Company, together with the sole right of trade and commerce, and all "mines royal," as well then discovered as not discovered, within the said Territory.

The operations of the Company, which, with slight exception, have been hitherto exclusively of a trading character, have been prosecuted from the date of the Charter to the present day.

It has become evident that the time has arrived when those operations must be extended, and the immense resources of the Company's territory, lying as it does between Canada and British Columbia, should be developed, in accordance with the industrial spirit of the age and the rapid advancement which colonization has made in the countries adjacent to the Hudson's Bay territories.

The average net annual profits of the Company, after setting aside 40 per cent. of them as remuneration to the factors and servants at the Company's posts and stations, for the ten years, ending the 31st of May, 1862, amount to £81,000, or upwards of four per cent. on the present nominal capital of £2,000,000. A portion only of this income has been distributed as dividend, while the remainder is represented in the assets and balances. The assets of the Company in which these subscribers will be entitled to an interest corresponding to the amount of their subscription will consist of goods in the interior, on shipboard, and other stock in trade, including shipping, business premises, and other buildings necessary for carrying on the fur trade, in addition to which there will be funds immediately available for the proposed extended operations of the Company, derived partly from the cash balance of the Hudson's Bay Company, and partly from the new issue of stock, amounting in the whole to a sum of not less than £370,000.

The Company's territory embraces an estimated area of more than 1,400,000 square miles, or 896,000,000 acres, of which a large area, on the southern frontier, is well adapted for European colonization. The soil of this portion of the territory is fertile, producing, in abundance, wheat, and other cereal crops, and is capable of sustaining a numerous population. It contains 1,400 miles of navigable lakes and rivers, running, for the greater part, east and west, which constitute an important feature in plans for establishing the means of communication between the Atlantic and Pacific oceans, across the continent of British North America, as well as for immediate settlement in the intervening country. The territory is, moreover, rich in mineral wealth, including coal, lead, and iron.

In addition to its chartered territory, the Company possesses the following valuable landed property: several plots of land in British Columbia, occupying most favorable sites at the mouths of rivers, the titles to which have been confirmed by her Majesty's Government, farms, building-sites in Vancouver Island, and in Canada, ten square miles at Lacloche, on Lake Huron, and tracts of land at fourteen other places.

The trading operations of the Company are chiefly carried on in the fur-bearing, and northern portion of the territory, where the climate is too severe for European colonization. These trading operations will be actively continued, and as far as possible, extended, whilst the management will be judiciously economized.

Consistently with these objects, the outlying estates and valuable farms will be realized where the land is not required for the use of the Company. The southern district will be opened to European colonization, under a liberal and systematic scheme of land settlement. Possessing a staff of factors and officers, who are distributed in small centres of civilization over the territory, the Company can, without creating new and costly establishments, inaugurate the new policy of colonization, and at the same time dispose of mining grants.

With the view of providing the means of telegraphic and postal communication between Canada and British Columbia, across the Company's territory, and thereby of connecting the Atlantic and Pacific oceans by an exclusively British route, negotiations have been pending for some time past between certain parties and her Majesty's Government and the representatives of the Government of Canada, and preliminary arrangements for the accomplishment of these objects have been made through Her Majesty's Government, (subject to the final sanction of the Colonies) based upon a five per cent. guarantee from the Government of Canada, British Columbia, and Vancouver Island. In further aid of these imperial objects, her Majesty's Government have signified their intention to make grants of land to the extent

of about 1,000,000 acres, in portions of the Crown territory, traversed by the proposed telegraphic line.

One of the first objects of the Company will be to examine the facilities and consider the best means for carrying out this most important work, and there can be little doubt that it will be successfully executed either by the Hudson's Bay Company itself, or with their aid and sanction.

For this, as well as for the other proposed objects, Mr. Edward Watkin, who is now in Canada, will be commissioned, with other gentlemen specially qualified for the duty, to visit the Red river and southern districts, to consult the officers of the Company there, and to report as to the best and safest means of giving effect to the contemplated operations.

Applications for allotments of certificates of Stock of £20 each, to be made to the International Financial Society, limited, at their offices, 54, Old Broad Street, E. C.

A preference in allotment will be given to parties hitherto holders of stock in the Hudson's Bay Company, and to the shareholders in the International Financial Society, limited. No applications will be received after Wednesday, 8th July, at 12 o'clock.

No.

HUDSON'S BAY COMPANY.

FORM OF APPLICATION FOR ALLOTMENTS OF STOCK.

To the Directors of the International Financial Society, limited:

GENTLEMEN: I request you to allot me..

certificates of £20 each of the stock in the "Company of Adventurers of England trading into Hudson's Bay;" and I hereby agree to become a member of that Company, subject to its rules and regulations, and to accept such stock, or any less amounts that may be allotted to me.

I am, gentlemen, your obedient servant,