Pugets Sound Agricultural Company
Encyclopedia
The Puget Sound Agricultural Company (PSAC), commonly referred to with variations of the name using Puget Sound or Puget's Sound, was a joint stock company
formed around 1840 as a subsidiary of the Hudson's Bay Company
(HBC). The purpose of the company was ostensibly to promote settlement by British subjects of land on the Pacific coast of North America. Company operations were centered at Fort Nisqually
in the Columbia District
(known to Americans as the Oregon Country
). At the fort (near present day Olympia, Washington
) the company developed dairy, livestock and produce farms. The company also operated many large farms in the area of Fort Victoria
on Vancouver Island
. The primary reason for the company's incorporation
was to protect HBC board members and shareholders from accusations and suits resulting from violation of that company's terms of license, which were only to trade with the native peoples and did not include the right to engage in commercial farming.
of the HBC requested from Parliament
in London
additional powers to raise food for sale to visiting ships, notably to provide a supply contract with the Russian America Company, and to promote the settlement of the Oregon Country. This request was denied so the HBC created a subsidiary company to be kept at arms length to accomplish this task.
that was negotiated in between Great Britain
and the United States
and went into effect in July 1846 upon the exchange of ratifications settled the Oregon question
.
This treaty had specific provisions regarding the Puget Sound Agricultural Company in Article IV, namely that the United States would respect PSAC property but had the right to purchase any of the properties.
The PSAC was awarded $200,000 in compensation in 1869 for all of its properties south of the Canadian-US border as spelled out in the Oregon Treaty
. Meanwhile the company’s operations had shifted north, including agricultural ventures on Vancouver Island.
In 1934 the company ceased to be listed on the stock exchange.
Joint stock company
A joint-stock company is a type of corporation or partnership involving two or more individuals that own shares of stock in the company...
formed around 1840 as a subsidiary of the Hudson's Bay Company
Hudson's Bay Company
The Hudson's Bay Company , abbreviated HBC, or "The Bay" is the oldest commercial corporation in North America and one of the oldest in the world. A fur trading business for much of its existence, today Hudson's Bay Company owns and operates retail stores throughout Canada...
(HBC). The purpose of the company was ostensibly to promote settlement by British subjects of land on the Pacific coast of North America. Company operations were centered at Fort Nisqually
Fort Nisqually
Fort Nisqually was an important fur trading and farming post of the Hudson's Bay Company in the Puget Sound area of what is now DuPont, Washington and was part of the Hudson's Bay Company's Columbia Department. Today it is a living history museum located in Tacoma, Washington, USA, within the...
in the Columbia District
Columbia District
The Columbia District was a fur trading district in the Pacific Northwest region of British North America in the 19th century. It was explored by the North West Company between 1793 and 1811, and established as an operating fur district around 1810...
(known to Americans as the Oregon Country
Oregon Country
The Oregon Country was a predominantly American term referring to a disputed ownership region of the Pacific Northwest of North America. The region was occupied by British and French Canadian fur traders from before 1810, and American settlers from the mid-1830s, with its coastal areas north from...
). At the fort (near present day Olympia, Washington
Olympia, Washington
Olympia is the capital city of the U.S. state of Washington and the county seat of Thurston County. It was incorporated on January 28, 1859. The population was 46,478 at the 2010 census...
) the company developed dairy, livestock and produce farms. The company also operated many large farms in the area of Fort Victoria
Fort Victoria (British Columbia)
Fort Victoria was a fur trading post of the Hudson’s Bay Company, the headquarters of HBC operations in British Columbia. The fort was the beginnings of a settlement that eventually grew into the modern Victoria, British Columbia, the capital city of British Columbia.The headquarters of HBC...
on Vancouver Island
Vancouver Island
Vancouver Island is a large island in British Columbia, Canada. It is one of several North American locations named after George Vancouver, the British Royal Navy officer who explored the Pacific Northwest coast of North America between 1791 and 1794...
. The primary reason for the company's incorporation
Incorporation (business)
Incorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...
was to protect HBC board members and shareholders from accusations and suits resulting from violation of that company's terms of license, which were only to trade with the native peoples and did not include the right to engage in commercial farming.
Background
In 1838, George SimpsonGeorge Simpson (administrator)
Sir George Simpson was a Scots-Quebecer and employee of the Hudson's Bay Company . His title was Governor-in-Chief of Rupert's Land and administrator over the Northwest Territories and Columbia Department in British North America from 1821 to 1860.-Early years:George Simpson was born in Dingwall,...
of the HBC requested from Parliament
Parliament of England
The Parliament of England was the legislature of the Kingdom of England. In 1066, William of Normandy introduced a feudal system, by which he sought the advice of a council of tenants-in-chief and ecclesiastics before making laws...
in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
additional powers to raise food for sale to visiting ships, notably to provide a supply contract with the Russian America Company, and to promote the settlement of the Oregon Country. This request was denied so the HBC created a subsidiary company to be kept at arms length to accomplish this task.
The Oregon Treaty
The Oregon TreatyOregon Treaty
The Oregon Treaty is a treaty between the United Kingdom and the United States that was signed on June 15, 1846, in Washington, D.C. The treaty brought an end to the Oregon boundary dispute by settling competing American and British claims to the Oregon Country, which had been jointly occupied by...
that was negotiated in between Great Britain
Great Britain
Great Britain or Britain is an island situated to the northwest of Continental Europe. It is the ninth largest island in the world, and the largest European island, as well as the largest of the British Isles...
and the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and went into effect in July 1846 upon the exchange of ratifications settled the Oregon question
Oregon boundary dispute
The Oregon boundary dispute, or the Oregon Question, arose as a result of competing British and American claims to the Pacific Northwest of North America in the first half of the 19th century. Both the United Kingdom and the United States had territorial and commercial aspirations in the region...
.
This treaty had specific provisions regarding the Puget Sound Agricultural Company in Article IV, namely that the United States would respect PSAC property but had the right to purchase any of the properties.
Later years
In 1863, Great Britain and the United States agreed to arbitrate the disposition of the PSAC properties in US territory.The PSAC was awarded $200,000 in compensation in 1869 for all of its properties south of the Canadian-US border as spelled out in the Oregon Treaty
Oregon Treaty
The Oregon Treaty is a treaty between the United Kingdom and the United States that was signed on June 15, 1846, in Washington, D.C. The treaty brought an end to the Oregon boundary dispute by settling competing American and British claims to the Oregon Country, which had been jointly occupied by...
. Meanwhile the company’s operations had shifted north, including agricultural ventures on Vancouver Island.
In 1934 the company ceased to be listed on the stock exchange.