stefansson-wrangel-09-15-095-005

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the Stefansson Arctic Exploration and Development Company. They
are under command of a white man, Charles Wells. These people have
no wage arrangements with us but arethere on a (a claim for back pay. "grub staking" basis,
the ordinary arrangement for trappers in arctic Canada and arctic
Alaska. They were landed there by our company, the supplies were
furnished by us and we are expected to bring them out. Half the
furs they catch belong to them and half belong to the company.
This is the sort of arrangement whichcould be carried on indefinitely
and profitably by a company having a charter of the island.

Because I had no more money and knew of no place where
I could borrow any, I made just before sailing to Australia a
proposal to the Lomen Reindeer and Trading Corporation of 17 Battery
Place, New York (who also have an office in Nome, Alaska), that they
either purchase all the interests in Wrangell Island of the Stefan-
sson Arctic Exploration and Development Company for $3,000., or
purchase 51 per cent. of those interests for $1,500. I did this
to try to get someone to undertake sending a ship to Wrangell Island
the summer 1924. It was also done with a view to the apparent
possibility that the present government of Great Britain might
desire not to retain Wrangell Island within the Empire. In that
case the United States would be the next best legal claimant, and
it would suit myself and my associates much better if the island
should go to the United States, which really has a legal claim,
than for it to go to Russia which has/no sound claim. If either
Great Britain or Canada decides to go on with the occupation the
sale of our company's property rights in Wrangell Island will have
no effect upon British ownership, especially if British action
affirming ownership is taken this summer.

I am attaching a second proposal which I do not really
favor but which might be considered should this one not be taken
up.