To give
up the competition, relinquish New Caledonia, and retire to the
other side of the mountains. He would then have possession of the
trade, not merely of the Columbia and its tributaries, but of the
regions farther north, quite to the Russian possessions. Such was
a part of his brilliant and comprehensive plan.
He now proceeded, with all diligence, to procure proper agents
and coadjutors, habituated to the Indian trade and to the life of
the wilderness. Among the clerks of the Northwest Company were
several of great capacity and experience, who had served out
their probationary terms, but who, either through lack of
interest and influence, or a want of vacancies, had not been
promoted. They were consequently much dissatisfied, and ready for
any employment in which their talents and acquirements might be
turned to better account.
Mr. Astor made his overtures to several of these persons, and
three of them entered into his views. One of these, Mr. Alexander
M'Kay, had accompanied Sir Alexander Mackenzie in both of his
expeditions to the northwest coast of America in 1789 and 1793.
The other two were Duncan M'Dougal and Donald M'Kenzie. To these
were subsequently added Mr. Wilson Price Hunt, of New Jersey. As
this gentleman was a native born citizen of the United States, a
person of great probity and worth, he was selected by Mr. Astor
to be his chief agent, and to represent him in the contemplated
establishment.
On the 23d of June, 1810, articles of agreement were entered into
between Mr. Astor and those four gentlemen, acting for themselves
and for the several persons who had already agreed to become, or
should thereafter become, associated under the firm of "The
Pacific Fur Company."
According to these articles, Mr. Astor was to be at the head of
the company, and to manage its affairs in New York. He was to
furnish vessels, goods, provisions, arms, ammunition, and all
other requisites for the enterprise at first cost and charges,
provided that they did not, at any time, involve an advance of
more than four hundred thousand dollars.
The stock of the company was to be divided into a hundred equal
shares, with the profits accruing thereon. Fifty shares were to
be at the disposition of Mr. Astor, and the other fifty to be
divided among the partners and their associates.
Mr. Astor was to have the privilege of introducing other persons
into the connection as partners, two of whom, at least, should be
conversant with the Indian trade, and none of them entitled to
more than three shares.
A general meeting of the company was to be held annually at
Columbia River, for the investigation and regulation of its
affairs; at which absent members might be represented, and might
vote by proxy under certain specified conditions.
