The first ship, the Eaglet and the Nonesuch, were dispatched on 3 June 1688 and the royal charter was proclaimed on 2 May 1670.
Struggle for control of the Fur Trade.
The governor and the committee embarked on an aggressive policy of inland expansion beginning with the building of Cumberland House on the lower Saskatchewan River.
HBC trade is undercut
HBC trade had been severely undercut to the point that the governor and the committee decided on a policy of inland expansion beginning with the building of Cumberland House on the lower Saskatchewan River.
HBC is introduced to its first competitor: the North West Co. of Montreal
A merger of the two parties was arranged.
The British Parliament confirmed and extended the company’s monopoly privileges to include the Northwest Territories.
The Hudson Bay Company joins hands with its competitor: North West Co. with a total of 173 trading posts in 7.8 million square kilometers of land.
Rupert’s land sold to Canada
In 1870, Rupert’s land was sold to Canada. As a result, HBC received £300,000 and one-twentieth of the fertile areas designated for settlement. It was also able to keep the lands where trading establishments had been built.
HBC is restructured into departments
The company was divided into three components: lands sales, fur trade and retail.
Following world war one, HBC became active in the real estate industry and soon co-founded “Hudson’s Bay Oil and Gas”.
HBC redevelops name and begins eastward expansion
HBC bought Montreal-based Morgan’s department stores and changed its banner to “The Bay”.