subject, but some of the gentlemen concerned had been kind enough to inform him of the facts. He had stated on a former occasion that the Hudson Bay Company had wished to sell. Certain parties in the City had, in the first instance, entered into communication with them for the purpose either of purchasing or obtaining permission for a transit through the Company's possessions. After some negociation the alternative of permission for a transit was agreed upon. That conclusion having been arrived at he did not know what it was that raised the whole question of sale again, but some fortnight or three weeks ago fresh negociations were opened. Parties in the City proposed to the Hudson Bay Company to give them by way of purchase a sum of 1,500,000_l_. What had taken place was this: The Hudson Bay Company very prudently required that the money should be paid down, and that the whole sum of 1,500,000_l_. should be ready on a given day, which he believed was yesterday. Of course the intending purchasers could not carry out that transaction in the course of a week, and they, therefore, applied to the International Financial Association to assist them. The Association agreed to do so, and the money either had been paid or would be on a day arranged upon. A prospectus would be issued tomorrow morning, and the shares would be thrown upon the market, to be taken up in the ordinary way upon the formation of companies. These shares would not remain in the hands of the Association, but would pass to the Proprietors, as if they had bought their shares direct from the Hudson Bay Company. Of course the Company would only enjoy the rights which those shares carried, and no more. They would, in fact, be a continuation of the Company; but their efforts would be directed to the promotion of the settlement of the country: the development of the postal and transit communication being one of the objects to which they would apply themselves. Of course, the old Governor and his colleagues, having sold their shares, ceased to be the governing body, and a new council, consisting of most respectable persons, had been formed that afternoon. Among them were two of the Committee of the old Company, with one of whom, Mr. Colville, he had had much personal communication, and could speak in the highest terms as a man of business and good sense. There were, also, seven or eight most influential and responsible people, and the name of the Governor, Sir Edmund Head, who had been elected to-day, would be a guarantee of the intentions of the new Company, for no one would believe that he had entered into this undertaking for mere speculative purposes, or that the Company would be conducted solely with a view to screw the last penny out of this territory. While the council, as practical men of business, would be bound to promote the prosperity of their shareholders, he was sure they would be actuated by statesmanlike views. No negociation with the Colonial Office had taken place; and as