The association was formed for a period of twenty {8} years, but with this proviso, that it was to be dissolved if it proved either unprofitable or impracticable, after a trial of five years; during which trial, however, Mr. Astor, as stockholder, was alone to bear all expenses and losses, the other partners giving only their time and labour. Of the above shares, Mr. Astor held fifty in his own hands; Mr. Hunt, as his representative and chief manager of the business, five; while the other partners, who were to carry on the trade with the Indians, were to have four each, in the event of the business succeeding. The remaining shares were reserved for the clerks, who joined the concern as adventurers, without any other remuneration than their chances of success at the end of the five years’ trial. The only exceptions were Mr. Robert Stuart and myself, who were to have our promotion at the end of the third year. From the proportion of interest, or number of shares in the hands of the stockholder and his representative, it will appear evident that the other partners, however unanimous they might be, could never have gained a majority of votes in any case over those which might have been by proxy appointed to represent Astor. At the head depôt, or general rendezvous, was to be stationed Mr. Astor’s representative. The person appointed to this important trust was Wilson Price Hunt, a gentleman from New Jersey, who alone, of the whole party, had never been engaged in the Indian trade; yet his active habits, perseverance, and enterprise, soon made good his want of experience, {9} and enabled him to discharge the duties of his station. In him was also vested the chief authority, or, in his absence, in M‘Dougall. It was therefore to either or to both of these gentlemen that all Mr. Astor’s measures were made known, and all his cargoes consigned. At the time when these novel schemes were first agitated, I was in Upper Canada; and the first intimation I had of them was in a letter from Mr. M‘Kay, the senior partner, requesting an interview with me at Montreal. To Montreal I accordingly went in the month of May; and there, for the first time, I saw the gilded prospectus of the new Company, and, accepting the proposals made to me by Mr. Astor, was the first to join the expedition;—and who at the time would not have joined it, for, although the North-Westerns tried to throw all the cold water of the St. Lawrence on the project, yet they could not extinguish the flame it had spread abroad. The flattering hopes and golden prospects held out to adventurers, so influenced the public mind, that the wonder-stricken believers flocked in from all quarters to share in the wonderful riches of the far west.