Farry Lire 13

principal traders had formed several associa-
tions which had taken the name of the North
West Company, but these had lasted for one
or two seasons only. The agreement of 1783-4
was for five years, and it was ratified during
the following summer at Grand Portage by all
but two of the chief traders from the interior.
The trade immediately improved; but the new
combine had not satisfied the ambitions of all
who felt they had a right to partnership. Of
the two traders who had refused to agree at
Grand Portage, one, Peter Pond, soon came
to heel and proved the most vigorous of all
the partners of the Company in the interior.
The other, Pangman, went to Montreal, and
there persuaded Gregory, Alexander Macken-
zie’s former employer, and McLeod, Gregory’s
partner, to join him in creating a rival com-
pany. It was a hazardous undertaking;
almost all the experienced traders were with
the North West Company, and they would
be certain to oppose a competitor with all the
ample means in their power. If the venture
was to succeed, it was necessary to secure men
of character and determination. Gregory