Fur is the fine, soft hair covering of certain animals especially the winter covering of animals belonging to northern latitudes. The animals chiefly sought after for the sake of their furs are the otter, sea otter, seal, beaver, raccoon, marten, ermine, muskrat, chinchilla, mink, lynx, fox, bear and wolf. All the preparation that skins require before being sent to the market is a thorough drying, so that they will not spoil. The small skins are, however, sometimes steeped in a solution of alum before drying. When stored in large quantities they must be carefully preserved from dampness, as well as from moths. The fur-dresser, on receiving the skins, softens them, scrapes off the pieces of flesh that may remain, and cleans them thoroughly. Then, after the fur has been combed, the skin is ready for the cutter. Russia yields great quantities of furs, especially in the Asiatic portion of her dominions. Austria, Turkey and Scandinavia produce the greater part of the balance of European furs. The fur trade of America has long been highly important and has given rise to several great trading companies. The French early took up the fur trade in Canada, and their chain of forts and trading posts at one time extended from Hudson Bay to New Orleans. Quebec and Montreal were at first trading posts. In 1670 Charles II granted to Prince Rupert and others a charter empowering them exclusively to trade with the indians of the Hudson Bay region. A company, then and after called the Hudson's Bay Company, was formed, which for a period of nearly two centuries possessed a monopoly of the fur trade in the vast tract of country known as the Hudson Bay Territory. In the winter of 1783-1784 another company was formed at Montreal, called the Northwest Fur Company, which disputed the right of the Hudson's Bay Company and actively opposed it. After a long and bitter rivalry the two companies united in 1821, retaining the name of Hudson's Bay Company. The monopoly which had hitherto been enjoyed by the original company about Hudson Bay was not much extended; but in 1868 an act of Parliament was passed to make provision for the surrender, upon certain terms, of all the territories belonging to the company and for their incorporation with the Dominion of Canada. In 1869 the surrender was carried out, Canada paying $1,500,000 to the company by way of compensation. The trade in furs conducted by citizens of the United States has been extensive, but it has been in a greater degree the result of individual enterprise than of the management of gigantic corporations. The Alaska Fur Company holds two of the Aleutian Islands in lease from the government, with the sole right of killing yearly not more than 100,000 fur seals. New York is the most important fur market in the United States, and London and Leipzig are the most important European markets.