John Cabot, a Venetian residing in Bristol, was the first person sailing under the English flag, to come to these shores. He sailed in 1497, with his three sons, but no settlement was effected. Sir Humphrey Gilbert was lost at sea in 1583, and Walter Raleigh, his cousin, took up claims that had been made to him by Queen Elizabeth, and crossed to the shores of the present North Carolina. Sir Richard Grenville left one hundred and eighty persons at Roanoke Island, in 1585. They were glad to escape at the earliest opportunity. Fifteen persons left there later were murdered by the Indians. Still a third settlement, consisting of one hundred and eighteen persons, disappeared, leaving no trace. Raleigh was discouraged and made over his patent to others, who were still less successful. The Plymouth Colony and London Colony were formed under King James I. as business enterprises. The parties to the patents were capitalists, who had the right to settle colonists and servants, impose duties and coin money, and who were to pay a share of the profits in the enterprise to the Crown. The London company, under the name of Jamestown, established the beginning of the first English town in America, May 13, 1607, with one hundred colonists. Captain John Smith was the genius of the colony, and it enjoyed a certain prosperity while he remained with it. A curious incident of its history was the importation of a large number of young women of good character, who were sold for one hundred and twenty, or even one hundred and fifteen, pounds of tobacco (at thirteen shillings a pound) to the lonely settlers. The Company failed, with all its expenditures, some half-million dollars, in 1624, and at that time, numbered only two thousand souls--the relics of nine thousand, who had been sent out from England.