net profits of the Company's business, as a compensation for their services.
These gentlemen are divided by their employers into different grades. The first of these is the Governor-General of all the Company's posts in North America. He resides at York Factory, on the west shore of Hudson's Bay.[64] The second class are chief factors; the third, chief traders; the fourth, traders. Below these is another class, called clerks. These are usually younger members of respectable Scottish families. They are not directly interested in the Company's profits, but receive an annual salary of £100, food, suitable clothing, and a body servant, during an apprenticeship of seven years. At the expiration {253} of this term they are eligible to the traderships, factorships, &c. that may be vacated by death or retirement from the service. While waiting for advancement they are allowed from £80 to £120 per annum. The servants employed about their posts and in their journeyings are half-breed Iroquois and Canadian Frenchmen. These they enlist for five years, at wages varying from £68 to £80 per annum.[65]
An annual Council composed of the Governor-General, chief factors and chief traders, is held at York Factory. Before this body are brought the reports of the trade of each district; propositions for new enterprises, and modifications of old ones; and all these and other matters deemed important, being acted upon, the proceedings had thereon and the reports from the several districts are forwarded to the Board of Directors in London, and subjected to its final order.
