stefansson-wrangel-09-06-132-002

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As you have been in the North, you have more idea than
most as to what may possibly be done up there. I shall do nothing
to urge you to put money into the Company but, in case you should
wish to buy some shares, you may now if you like take the matter up
with the Company direct. The address is Credit Foncier Building,
Vancouver, B.C. Mr. A. J. T. Taylor, of the Taylor Engineering Com-
pany, whose offices are in that building, is Vice-President of the
Stefansson Arctic Exploration and Development Company.

This year we have sent North a small party. They will sail
on a gasoline schooner from Nome during the next few days. The com-
ing winter they will engage in trapping foxes and hunting polar bears
and next summer they will hunt walrus. The profits from these activi-
ties should give us handsome interest on our money. However, this is
not the main purpose of the company. I am hoping to get a lease of
the island where they are operating. We will then stock the island
with reindeer and engage also in whatever profitable activities seem
feasible.

The office expenses in Vancouver are almost negligible and
the entire expenses of the Company are for these northern operations
and for a trip which I shall have to make to England this winter on
behalf of the Company to secure the necessary leases. I have already
spent practically all the money I have and shall have to sell three
or four thousand dollars worth of shares to cover the further expenses
of operation up to next fall. For this reason we are now willing to
sell to anyone who cares for them shares up to the limit of forty-
nine per cent of the entire stock issued. As said above, it is my
desire to keep in my own hands fifty-one per cent.

Mr. F. A. Payzant,
Department of the Naval Service,
Radiotelegraph Branch,
Office of the District Superintendent,
Victoria, B. C.