Ch 4.3  Merger of the HBC and NWC
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Ch 4.3 Merger of the HBC and NWC

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Ch 4.3  Merger of the HBC and NWC Ch 4.3 Merger of the HBC and NWC Presentation Transcript

  • Mer ger of theHBC and NWCChapter 4.3Pages 147- 150
  • Hard times for the FurTrade…  By 1820, both the HBC and the NWC were suffering financially  The law suits over the Red River colony were very expensive  The beaver is disappearing rapidly  Profits were shrinking THERE WAS NOT ENOUGH FURS IN THE NORTHWEST TO JUSTIFY TWO FULL SCALE TRADING COMPANIES…
  • Fur Trade Survival Plan  In 1821, the HBC and the NWC decided that the only way to survive was to merge their companies  The new company called HUDSON’S BAY COMPANY It had 100 shares in the company
  • The NEW Hudson’s BayCo. NWC HBC Had 55 of the 100 Had 45 of the 100 shares shares With the 2 companies now united, the new HBC had comtrol of all of Rupert’s Land and the land west of the Rocky Mountains (BC) A HUGE AMOUNT OF LAND!
  • Shipping News… It was still cheaper to ship furs out of Hudson’s Bay The old NWC shipping route (Fort William to Montreal) was rarely used after the merger
  • With a merger comesdownsizing…  As with most companies when they merge, the HBC reduced it’s workforce in 1821.  First Nations people became even more important to the success of the Fur Trade  Map makers  Trappers  canoe repairmen Translators Canoe paddlers Guides  Meat suppliers
  • The HBC gets a newboss… The new HBC appointed George Simpson as the director of the company He was in charge of all HBC operations in North America He was a Scottish sugar broker He knew little about furs when he arrived in 1820, but knew how to run a trading company
  • George Simpson: ahands- on approach tobusiness  Simpson did not sit behind a desk all day  He spent much of his 40 years as director traveling around his territory  He traveled to as many trading posts as he could  He would arrive without warning and grill his staff if things were not up to his standard  He was called the “Little Emperor” because of his small stature and high expectations
  • George gets tired…  After 40 years in charge of the HBC, Simpson returned to England in 1829 to take a leave of absence  He returned a year later, in 1830 with a new wife Frances who was 18 years old.
  • George’s Two Lives… As was common, George already had a First Nations wife and many Metis children in Canada. He did not want his new English wife to meet them so he shipped them off before the Simpsons arrived
  • Frances Simpson When she arrived, Frances announced that she would not socialize with the Metis people She socially isolated herself- a bad move in a community where people had to depend on each other
  • More bad news for theSimpsons…  Because of Frances’ attitude, George was also isolated from the community and began to become bitter towards his workers  In the spring of 1832, their infant son died and he and his wife left Red River and returned to England.
  • Simpson returns(again…)  Again, Frances and George returned to British North America this time settling in Montreal where the social scene was more to their liking.  George was knighted in 1841 for his service to the HBC  He continued to travel across his “empire” until he died in 1860.
  • Let see if you werelistening…  What did the HBC and NWC do in response to shrinking profits?  What year did the two companies merge?  How many shares TOTAL were there in the new company?  How many NWC? How many HBC?  Who was appointed as the director of the new HBC?  What kind of approach did he have to managing the company?  What did George have to hide when he first returned to BNA with his new wife Frances?  How did Frances react to co- existing with the Metis people?