On the news of the conclusion of the Treaty, the Adventurers were filled with joy. The Committee was in session when a messenger came hot haste from Whitehall to bear the glad tidings. A General Court was convoked for several days later. Plans were concerted for securing the very most that the circumstances would allow. It was necessary to secure the Act of Cession which it was supposed would be issued by Lewis, ceding to Great Britain the places on Hudson's Bay, the Company being regarded merely in the light of sub-ordinary subjects. Many of the members wished to press at once for pecuniary compensation, but the wiser heads agreed that this would best be a matter for subsequent negotiation. Many thought indeed that perhaps there need be no haste in the matter, as the interest on the original estimate of damages, already nearly double the principal, was growing daily at an enormous rate. "As to the Company's losses," says a memorandum of this year, "it will appear by a true and exact estimate that the French took from the Company in full peace between 1682 and 1688 seven ships, with their cargoes, and six forts and caches in which were carried away great stores of goods laid up for trading with the Indians. The whole amounts to £38,332 15s., and £62,210 18s. 9d. interest, computed to 1713." [Sidenote: Company's claim for compensation.] Under date of 30th July, 1714, occurs the following: "The Committee having received a letter from the Lords Commissioners of Trade, and they desiring their attendance on Tuesday next, and to bring in writing the demands of the Co. for damages rec'd from the French in times of peace pursuant to the 10th & 11th Articles of the Treaty of Utrecht. Upon which the Secretary is ordered to Copy out the Abstract of the whole damage sustained, amounting to with Interest the sum of £100,543-13-9; as likewise the particulars in these small volumes in order to present the same to the Commission of Trade on Wednesday next." It does not seem to have been doubted but that the Queen, if petitioned, would grant the Company's request in time to send an expedition to the Bay that very year.[48] But while vessels were being acquired, fitted out and loaded with cargoes, the Company was wise enough not to run the risk of falling into a trap. Nothing was to be done without the fullest royal authority. It is worthy of remark as illustrating how much the Company trusted the Canadian authorities, Bolingbroke (May 29, 1713) reminded the Duke of Shrewsbury (then at Paris) that in Pontchartrain's letter to the Marquis de Vaudreuil, Governor of Canada, the latter was directed to yield the forts and settlements belonging to the Hudson's Bay Company: "But this order the Merchants thought would hardly fulfil their requirements. They were despatching two ships to the Bay. It would therefore be better if his grace obtained direct order to M. Jérémie in duplicate." [Sidenote: No Act of Cession.]