In 1812 it founded the colony of Ross, on the coast of California, and a few years later prepared to dispute the right of the Spanish Governor to occupy that region.

The natives were everywhere peaceable, and the dividends satisfied the stockholders.

The slaughter of the fur-bearing animals was injudiciously conducted, and led to a great decrease of revenue.

The last dividend of importance (12 per cent.) was in 1853.

After that year misfortune seemed to follow the Company.