 By 1626, however, it was clear that the colony was unlikely to yield significant profits, and the merchant adventurers sought to divest themselves of their obligations.Prence was one of eight leaders of the colony (known collectively as the "Undertakers") who agreed to assume all of the colony's debts to the merchants, in exchange for which the other colonists granted them a monopoly on the local fur trade.In a 1633 tax assessment, Prence's wealth was such that he was one of a few men required to pay more than £1.