ered the _Hudson's Bay_, and Mike Grimmington fled for
Nelson on the _Dering_.

A fierce hurricane now rose and the English garrison at Nelson had one
hope left--that the wild storm might wreck d'Iberville's ship and its
absent convoys. Smashing billows and ice completed the wreck of the
_Pelican_; nevertheless the French commander succeeded in landing his
men. When the storm cleared, his other ships came limping to his aid.
Nelson stood back four miles from the sea, but by September 11 the
French had their cannon placed under the walls. A messenger was sent to
demand surrender, and he was conveyed with bandaged eyes into the fort.
Grimmington,[3] Smithsend, Bailey, Kelsey--all were for holding out; but
d'Iberville's brother, Serigny, came in under flag of truce and bade
them think well what would happen if the hundred Indians were turned
loose on the fort. Finally the English surrendered and marched out with
the honours of war. Grimmington sailed for England with as many of the
refugees as his ship, the _Dering_, could convey. The rest, led by
Bailey and Smithsend, marched overland south to the fort at Albany.

[3] Grimmington, with the _Dering_, had reached the fort in safety.
Smithsend's captive ship, the _Hudson's Bay_, had been wrecked with the
_Pelican_, but he himself had escaped to the fort.

The loss of Nelson fell heavily on the Hudson's Bay Company. Their ships
were not paid for; dividends stopped; stock dropped in value. But still
they borrowed money to pay L20 each to the sailors. The Treaty of
Ryswick, which halted the war with France, provided that possession on
the Bay should remain as at the time of the treaty, and England held
only Albany.

CHAPTER VIII

EXPANSION AND EXPLORATION

When the House of Orange came to the throne, it was deemed necessary
that the Company's monopoly, originally granted by the Stuarts, should
be confirmed. Nearly all the old shareholders, who had been friends of
the Stuarts, sold out, and in 1697, the year of the disaster related in
the last chapter, the Company applied for an extension of its royal
charter by act of parliament. The fur buyers of London opposed the
application on the grounds that:

(1) The charter conferred arbitrary powers to which a private company
had no right;

(2) The Company was a mere stock-jobbing concern of no benefit to the
public;

(3) Beaver was sold at an extortionate advance; bought at 6d. and sold
for 6s.

(4) The English c