With the passing of the famous old firm of Nesbitt, the London fur market lost one of the best-known consignment houses in the world. This house was particularly happy in its connection with the American trade and enjoyed the confidence and respect of the best American firms. When the Nesbitt firm was forced to liquidate in order to save as much as possible for its clients, it was felt that the London market had lost one of its landmarks and was, to a certain extent, weakened in its uphill fight to regain its leadership in the fur trade. By taking over the warehouses and offices of the Nesbitt Company and announcing its willingness to accept consignments of fur skins, the Hudson's Bay Company carries on where Nesbitt Ltd. left off. H.B.C. will now be in a position to hold its auctions on its own premises. The London market will be made all the stronger by the entrance of the Company as a consignment house, as it will naturally follow that the class of goods consigned will have to be up to a fine standard and will only be accepted from reputable and first-class firms. By taking the lead in the London market, by setting the standard for all the trade, both in goods and in business principles, by inducing the best firms to send their best goods to the London market, by eliminating speculative bidding and by having great financial strength and sound business methods back of it, the Hudson's Bay Company has once more proved its ability to come through all kinds of trials and tribulations with flying colors. Impressions of the Store Managers' Conference By F. F. HARKER Being comparatively a newcomer with the Hudson's Bay Company, judging by the long records of service of other managers present, I felt deeply moved by the cordial spirit of comradeship shown me by my co-partners. I was greatly impressed by the frank way we were received by the Canadian Advisory Committee. The conference was a remarkable one in many ways. It created a precedent, insofar that it was the first time in the history of the Company that managers of the many H.B.C. stores were gathered together for consultation, advice and mutual benefit. I feel that this conference will prove the forerunner of an era of singular prosperity to the Company and of increased efficiency throughout the Company's stores. Humorous Extracts from Some Official Letters Written in all seriousness and not in the least intended to be humorous By C. C. SINCLAIR In an official letter from an outpost manager the activities of the opposition were reported upon as follows: "_The opposition ain't raisin' no 'ell._" By which it was assumed that the outpost manager was holding his own. "_Dear Brother and Fellow Superior:_ "_I have spent a lonely and dissolute_ (meaning desolate) _winter, owing to the loss of two good hunters and a beloved wife._" * * * * *