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'HE

Vancouver Isla/d (Pevelopmenl Syndicate

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Of LONDON, ENGLAND. ^

Developrrient of the Deep Sea Fisheries 1
of the Province of British Columbia, |
and the settlement of Scotch Crofter ^
Fishermen on the Coasts and Islands
thereof.

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PRELIMINARY TO TKE ISSUE OF ^HE COMMERCIAL

COMPANY'S prospectus:

VICTORIA, B. C. :
Ellis & Co., Printers, Colonist Office, Government Street

1892.

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THE

Vancouver Island Development Syndicate

(LIM:iTB3r>»

Of LONDON, ENGLAND.

Developnient of the. Deep Sea Fisheries
of the Province of British Columbia,
and thq settlement of Scotch Crofter
Fishernien on the Co^s and Islands
thereof.

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PRELIMINARY TO THE ISSUE OF THE COMMERCIAL
COMPANY'S PROSPECTUS.

VICTORIA. B. C. : .,

Ellis & Co., Printers, Colonist Office, Government Street.

■ 1892. 1

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MEMORANDUM.

Ill pursuance f the Acts passed at the recent scf^sion of the Legislative As-
sembly of British Cohnnhiu, viz. : the "Deep Heii Fisheries Art, lSi»:>," ttml the
" Cohinization Act, 1892," the Vancouver Island Development Syndicate, Limited,
are authorized to form in Eiifihind a ("oaiipany with a capital of not less than one
million pounds sterling (.£1,000,000 stg.) for the purpo.se8 mentioned in said Acts :

Briefly stated, the pui-jioses of hoth Acts are as follows :
L — " CoumiZATioN Act, 18!)2." . I

1. The Government of British Colnnvliia are to make arrangements witli Her
Majesty's linperial (Jovernment, for bringing families of colonists from the United
Kingdom, iJot to exceed twelve hun<lred and fifty families, and settle them on the
sea coasts and islands of British Columbia.

2. Her Majesty's- Imperial Government having ottered to grant a loan of
£150,000 to the Province of British Columbia, the Government of the Province are to
accept of this loan in three instalments of .£50,000 each, the first ins|,alment being
payable vipon the conclusion of the arrangements; the second instalment to i)e pay-
able when tlje first ij^t'^®''*'^"'^ ^^" expended ; and the third instalment to be
paj able whe^ the s«Sp instalment has been expended.

i '' ' * ^ '

3. The (Bovernment of British "Columbia to pledge the credit of the Province by

issuing debentures, or otherwise, as may be acceptable to the Imperial Government
fpr the re-pa]'ment of the sums to be advanced, together with interest at three per
"cent, per annlini, the time for re-payment to commence ait the termination of five
years from the date of each advance, and the principal and interest accr\ied to be
repaid by eqtlal instalments, extending over a period of twenty -five years from the
«late at which in each ca.se ro-payment begins.

IL "Deep

Fisheries Act, 1892."

In the pr^mble to this Act, it is recited that as the Government of British
Columbia have V^'Vizcd the conclusion of an agreement with Her Majesty's
Imperial Government for transferring colonies of fishermen and others from the
United Kingdom and locating them in Britisb" Columbia, it is necessary for the
carrying out of the objects of the scheme, that a Commercial Company should be
formed "for the purpose of assisting the settlement of the colonists, furnishing them

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suitiiMo cniployiiH'nt, providinff facilities for.innikoting tlio product of their lu1»ors,
adopting lueusur.H to further the (ieveUiprnent of the <loep sea fiHherieH, securing the
estahlishinent of contiii<,'ent iii(i\istries, and promoting -the coloniziUion of tlie Pro-
vince. It is further recited, tliat " Tlie Vancouver iHland Devtdopinent Syndicat*;,
Limited," a company duly incorporated in England, naH been formed for the, pur-
pose of conducting negotiations with the Province, and of concluding a provisional
agreement with the Province, wherehy the syndicate will, umler certain conditions,
agree to form a Commercial Company in England, under the Joint Htock- Companies
Act, 18()2, and amending Acts, for the purposQS above mentioned.

Th« enactments are then as follows :

1. The Government of British Columbia are empoweted to entcf into a pro-
visional agreement with. the Syndicate uncler which the Syndicate agree to form
the ComijMreial^ Company. . ,• '

2. Upon the formation of the Commercial Company with a capital of hot less
than £1,000^00 sterling, and subject to the Company depositing to the credit of
the Briti.sh C«)lumbia Government in a chartered bunk of the Province a sum of
gilOO.OOO, as a guarantee that the Company will cjjrry out the agreement to be
made with the Government, the Government will enter into an agreement with the
Company to carry into effect the puipo.ses for wlvich such guarantee shall be given,
and for the permanent establishment of fishing and other industries in the Province,
and for the grant to the Company of oOO.OOO acres of public lands.

3. When the Company have expended in the Province SIOO.OOO in permanent
improvements, and will furnish such other security as may be provided for iij the
agreement, the sai<l depo.sit of $100,000 with the accrued interest thereon, shall be
forthwith refunded to the Company.

4. The Government to grant to the Company 500,000 acres of public lands to
be selected out of the areas reserved in the schedule to the Act.

f>. The areas embraced in the schedule to the Act, to be reserved for the Com-
pany until the Company has made its selections.

6. The Company to be formed not later than 31st Decemher, 1892, or such other
date not beyond 31st December, 1893, as the Lieut-Governor may name.

*^

7. Surveys of the lands required by the Company to be ma^e at the Company's

expense.

8. Company to complete such surveys within three years from its formation.

9. After the surveys are completed, the Company to select its lands.

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10. Lands granted to the Conipany not to !>« ^lubject to taxniion for ton yi-ai-N
from dati' of selection, and p«{r8onal property free from tiixution for two years from
date of (Jonipany's formatioi*

TiKi schedule to the Act defines the ureas to he resorxcd uiitd tlie Coinpany

nmkes its Kelection, and eiiibraccH an area of I, HI !•,()()() acres, cxteiidiji^ from Port

San Juun, tlience aionj{ tiie coast to Hureiay (Sound, C|ayo(|uot Sound, Ksperanza

Inlet, and Nootka Sound, Quatsino to K»peran/a, ineludiii},' Kyuocpiot Soiuid, (ioletas

Channel to QuaUiuo Soiuul, Johnstone and Hri»ughton Straits, Tapi' ("aulion to Port

BimpRon ami Cjueen Charlotte Islands, and nuinerous iNJands adjacent t'l the various

harbors. . ^ , ^t.

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Beforo the regular prospectus of th<' (company can lie issued, it will lie ohserved

that 'Her Majesty's hnperial Goveriunent have formally to ratify the ajjreement
witli the Government of British ColuujUia, and it is expected this ratiticatiuh will
he completed in a very short tinve, the Hon. .John Uohstin, the I'remiir of the Pro-
vince liaying sailed for Enj^land on 1 1th inst., for tlu< pinposc of eomjiletinj^ tlie
arrangements with the Imperial C'overnlnent >ind with the (.'ommercial Company.

Immediately on the completion of the arrangeihents with the Infperial Govern-
ment, the Vancouver I.sland Development Syndicattv Linuted, will issue fheir pros-
pectus in London, and invite the public to appi} for shares in the'Company.

The Syndicate have the asanrance of eminent tinancial firms and ofpiivate
individuals in Britain, that the w^ole aniount of thV* first issue of stock will be
readily npplie<l for, and as the Syndicate's prepa|iitioi'.s for the fovmution of the
Comj)any are iit the present date, in a very advanced stuge, it is thought a<lviKable
to ask investors on this side of the Atlantic, to sign a prelimiiniry application for
stock, so as to enaVde the Sy^idicate to provide for iheamounttcnie allotted to them.

Sometime must necessaiily elapse, after the pro.'jpeclus of tlie Company is
i.s.sued in London, b'efore the copies can reach Canada, and in order to expedite
matters, the present list of applicants for stock will be forwarded to Londpn at an
early date.

The Syndicate are anxious that no time should be lost after the prospectus is
issued for the formation of the Company, as the Company will have a great deal to
do this year in preparing for feb©-eelf»»ists.

When the scheme of Crofter Fisherman Colonization to Britisli Columbia was
first mooted about three .^ears ago, the Imperial and Colonial G iveininents found
that its progre.'ss would be slow, unless backed up by conuneieial enterprise ami
capital adequate to the extent of the undertaking. The V'}^ncouver Island Develop-
ment Syndicate vvas thetefore formed, having as its chairman, VV. G. Elder, E.s(|.,of
the. well known firm of A. Lj^ Elder & Co., Australasian me4-t;hants, 7 St. Helen's

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Place, London, and having for its object the exploration of the West Coast of British'
Columbia, to nscertain its suitability for the settlement of Crofter fishermen, the
resources of the seaboard and the prospects of markets for the disposal of the catches
of the fishermen, with vhom a large Commercial Company, hereafter to be formed,
would deal and - co-operate generally with the British Columbia Government in
can-ying out the scheme of colonization. ■ The Syndicate appointed as their Com-
missioners, Colonel W. J. Engledue, of the Royal Engineers, an officer of large and
varied prncticul englneei-in^ experience, and Major William Clark, of the Canadian
Militia, who'^nas an intimate knowledge of the resources of Canada, and who has
acted as a i-epresentative of the Dominion, under Sir Charles Tupper at the various
international exhibitions held in recent year% in GrtKat Britain. These gentlemen
visited Canada in July, 1891, and through the courtesy of the Dominion and Local
Governments,, were enabled to thorougly explore aU th% most favorable harbors,
both on the coast of Vancouver Island, QueenrCharlotte Islands ant^ on the Northern
Mainland of British Columbia. They had (he advantage of the Government steamer
and had ample opportunities nf exploration andenquiry, extending until November,
1891, the result being that it was conclusively demonstrated that a vast field exists
for the profitable investment of capital in the catching and marketing of fresh fish,
and of the cured products, in the manufacture of fish oils and guano, from refuse, ;
in the lumber business, in the mineral resources of the islands, especially Coal, and
in attracting the better class of immigrants to cultivate the soil.

A careful estimate has been made, based on the existing trade in fish and other
products to be derived from the fishing industry, and also from the lumber business,
and it is considered that within a short time of the st^t of the Company's operations
a large profit.may be expected. . • > '

The resources of the sea are so enormous on these coasts, and the demand for
fresh fish so great in the United States and . inland towns of America and Canada,
that the success of the enterprise, when backed up by the Government emigration
of the fishermen, is practically assured. Exhaustive enquiries as to the fresh fish
trade w,pre made at the Puget Sound ports, at Portland and San Francisco, and it
was decided that the dry air system of refriger'ution was the best to adopt so
as .to secure b perfectly fresh, marketable article, and the low rate of transportation
which can be made, even for the longest haul to New York and Boston, renders it
possible to supply^ fresh fish at a cost much lower than that of butcher's meat. It
was found that when a continuous and regular supply of all kinds of fish, properly
assorted and in prime condition, could be depended upon fron) a Company with
capital enough to carry out its plans, the maiket demands would increase much
beyond its pt^sent large proportions.

' ' •

The concession of 500,000 acres of selected lands on the seaboard, including
some of the finest harbors on the Pacific Coast, valuable timber limits and coal
lands, must form, a very substantial guarantee to investors. The present rate of

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selected Government lands, to settlers, is five dollars per acre. The lands are to be
free from taxation for ten years. It is quite evident that the operations of the
Company will greatly enhance the value of a portion of the lands during the next
few years, and when the lands are sold or utilised, an ever increasing revenue must
be derived from them. ' •>

Briefly stated, the objects of the Company are ;

Catching and dealing in fresh fish. '

Fish curing.

Extraction of oil from edible and non-edible fishes.
Manufacture of fish products.
Owning and wpating steamships and other craft;
Sawing and conversion of lumber.
Boat building, ship building.

Box and barrel making. " /

Cleaning and opening up of lands for agricultural and other purposes-
Prospecting or and working coal and other minerals. ^ . ,
Formation of subsidiary companies for special business. J^ *
• Trading in the settlements and elsewhere. '■ ^ ' >.

Acting as agents of the Provincial Government In transferring and
locating the fishermen and others, and in general qo-operating
with the Government in carrying out the purposes of the Acts.

The colonization scheme is unique and perfect in its details, and must neces-
sarily command the best class of colonists to settle in British Columbia.

A sum not exceeding JE150 will be advanced by the Government on account of
each family, to be repaid by them by easy instalaients, spreading over a number of
years. Out of this sum will be paid the expense^ of transferring and locating them
on land set apart for them. Houses will be bulit and furnished ; land will be
cleared, and boats, tackle and appliances for fishing will be provided, so that the
day after their arrival at their destination, they can prosecute their calling, and on
returning with their catch, the Company will pay them for it. Not a day's labor
will thus be lost, and they will be in a position at once to earn a living, and under
circumstances and conditions more favorable than any coloni.sts have ever been.
When the colonists have repaid the monies advanced by the Government, the land
set apart for them will become their own.

It will be the intention of the Company to employ experts in the various
branches of the business into which it will enter, such as I oat building, ship build-

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in^ box and barrel making, etc.. and also induce colonization of its lands, so that
the population of the Province will be largely increased by its operation. ,

' It is also the intention of the Company to erectcold storage facilities at ^rious
points, build steamers with refrigerating accommodation, and to make such arrange-
ments as to markets for fish and other products, as will ^f necessity, yield a fair
profit to the Company.

The prospectus of the Company when issued, will give in detail, the proposed'
plans of the Company, and it must be apparent to investors, that a Company with
such a capital at its command, and with the concessions it has obtained from the
Government, must materially advance the progress of British Columbia, enhance
the value of existing interests, ameliorate the condition of a large proportion ot Her
Majesty's subjects, give cheap food to the public, and pay a good dividend to the
stockholders.

The Syndicate cannot promise to allot all the shares that may be applied for,
but the investors who sign the application hereto appended, will receive a fair pro-
portion of the stock.

The first issue- will be £250,000 sterling, on which not more than 25% will be
asked at first, including application aiid allotment, and 8ub,seqveut calls will l>e made
at not less than three mouths' notice.

The Head Office of the Syndicate is 19 St. Swithin's Lane, London, E. C.
A. J. Macphail, Secretary.

The Syndicate have authorized Mr. J. B. McKiUigan, Local Secretary, 72
Government Street. Victoria, as their sole agent for receiving applications for stock.

Intending applicants for stock, will please fill up and return the accompanying
application form' as soon as possible to him, so that he may be able to cable the
total amount applie<l i^ at the earliest date.

72 Government Street, Victoria, B. C

13th June, 1892. ■

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t 1 Vancouver Is and Deveopmenl Spdicale, Limiled,

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• / ^-/ OF LONDON. ENGLAND.' *-

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\ PRELIMINARY APPLICAT^ON FOR STOCK.

•

i (THE AMOUNT SUBSCRIBED TO BE IN STERLING CURRENCY.)

• ■ ^ ■ " '

: / hereby apply for stock to the amount of

\ pounds sterling, of the capital stock (first issue) of the Company to be

^^1

: /(jr;wrtr 7« £'«^/a«r/. (J;/ The Vancouver Island Development Syndicate,

-- -- --B

• Limited, of London, England, in hirtue of the Acts passed by t/tc Legis-

• .. : latwe Assembly of British Columbia, viz. / the " Deep Sea Fisheries Act^

: ,1892," and the "Colonization Act, 1892;" and agree to subscribe iny

: name for said amount to the regular Form of Application, as soon as the

4

I Company has issued its prospectus.

1

• /reserve to myself the right to alter or rescind this subscription

\

: // the terms of the prospectus are not satisfactory to me. ■

• Signature. • ,

: ■ ;, ' -^ ■"• ?

: p.,0. Z' '

: ■ Dated , fS(^^-

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I To be tilled up and returned to v •
• MR. J. B. McKILLIGAN, ' ) '^

■>

: P. 0. Box 125,

: ' Victoria, B. C.

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