midday on
May 3rd
The capital was divided into 5,000,000 Ordinary £ 1 Shares , and 4,000,000 Deferred Shares of 1s . The latter were assigned to the vendor , Lars Larssen , in payment for various considerations . He had also underwritten the entire issue of Ordinary Shares for a commission of 3 per cent . The lists for subscription were to open on May 1st and close at midday on May 3rd . The London and United Kingdom Bank , in which Lord St. Aubyn was a Director , was receiving subscriptions and carrying out the routine of issuing allotment letters . Such in essence was the prospectus of Hudson Bay Transport , Ltd. . It embodied every point that Larssen aimed for .