 The British Hudson 's Bay Company was formed in <unk> to capitalize on the Native American fur trade near Hudson Bay . The company came to dominate the North American trade in the 18th century . The North West Company of Montreal was formed in 1779 to compete with Hudson 's Bay Company establishing their western headquarters and key exchange point at Grand Portage in what is now Minnesota . Grand Portage , with its two wharves and numerous warehouses , became one of Britain 's four main fur trading posts , along with Niagara , Detroit , and <unk> . British ships crossed Lake Superior regularly transporting supplies to the region and bringing back valuable furs . Even after Grand Portage became property of the U.S. in 1783 the British operations , such as North West Company and the <unk> Company , continued to operate in the area for some time . 
