nd pursue with all speed and
faithfulness the business of the cod fishery, seine fishery, fur
trade, burning of lime and every other trading business that shall be
thought advantageous to the company at Passamaquoddy, St. Johns, Canso
and elsewhere in or near the province of Nova Scotia and parts
adjacent."

Evidently the project was regarded as in some measure an experiment,
for the contract provided, "the partnership shall continue certain for
the space of one year and for such longer time as all the partys shall
hereafter agree." Examination of the document shows that when first
written the period the contract was to continue was left blank and the
word "one" inserted before "year," evidently after consultation on the
part of those concerned.

Shortly before the formation of the trading company, James Simonds
went to Halifax to procure a grant of land at St. John and a license
to trade with the Indians, but did not at this time succeed in
obtaining the grant. However the governor gave him the following
license to occupy Portland Point:

"License is hereby granted to James Simonds to occupy a tract or
point of land on the north side of St. John's River, opposite Fort
Frederick, for carrying on a fishery and for burning lime-stone,
the said tract or point of land containing by estimation ten
acres.

[Signed] "MONTAGU WILMOT."

"Halifax, February 8, 1764.

Upon this land at Portland Point the buildings required for the
business of the company were built. The partnership was in its way a
"family compact." Samuel Blodget, was distantly related to Wm. Hazen
and the latter was a cousin of James and Richard Simonds; Robert
Peaslie's wife was Anna Hazen, sister of Wm. Hazen, and James White
was a cousin of Wm. Hazen. It was agreed that Blodget, Hazen and James
Simonds should each have one-fourth part in the business and profits,
the remaining fourth part to be divided amongst the juniors, Messrs.
White, Peaslie and Richard Simonds.

Blodget and Hazen were the principal financial backers of the
undertaking and agreed to provide, "at the expense of the company,"
the vessels, boats, tackling, and also all sorts of goods and stock
needed to carry on the trade, also to receive and dispose of the fish,
furs and other produce of trade sent to them from Nova Scotia. The
fishery and all other business at St. John and elsewhere in Nova
Scotia was to be looked after by the others of the company, and the
junior p