Until 1910 the fox ranching industry was controlled by six Prince Edward Island men; the Big Six, who would sell no foxes to outsiders. Late in 1910, however, one of the six broke the agreement, selling to a few friends. That year saw the formation of the first fox ranching com- pany (still in business at Summerside) and early the next year saw the incorporation of the first United States fox ranching company, operating near Alberton with Boston and New York financial backing.

From 1910 to 1914 was stock promoters golden age, when many weird financial transactions rubbed elbows with staid, reliable and honest com- panies. The war, of course, caused the more speculative enterprises to close up, but common sense would not have long withstood such frenzied financing as selling options on the unborn+pups of foxes not yet born. Prices of live foxes advanced from $3,000 a pair in 1910 to $6,000 in 1911, then $9,000 in 1912 and to more than $25,000 in 1913. Cash dividends paid by companies went often higher than. 100%.

In 1914 there was organized the Silver Fox Breeders’ Association of Prince Edward Island, first body of its kind in Canada, and in 1920 Prince Edward Island men organized and formed the Canadian National Silver Fox Breeders’ Association, a national body operating under Dominion Government Charter and having its own building and: head office at Sum- merside, Prince Edward Island, a selected staff of inspectors, a fur marketing division and a membership of over 5000. An Experimental Fox Station, acting under the Dominion Department of Agriculture, with a staff of seven, a modern laboratory and a large ranch property, is also located at Summerside.

During the autumn of each year Canada’s greatest foxes are exhibited at the Royal Winter Fair, Toronto, and every year the lion’s share or nearly all the prizes, are won by Prinee Edward Island exhibitors. The photo of a fox shown with this article, is one bred and raised by the man who is considered the father of the National Fox Breeder’s Associa- tion. In 6 years this fox has won two world’s championships, an inter- national championship, two reserve championships and eleven class championships.

Of slightly over 100,000 foxes and pups inspected by the Canadian National Association last year; nearly half or 46,740 were raised on Prince Edward Island, the value running from $200 to $2500 a pair. During 1928 a total of 4,935 live silver foxes were shipped from Prince Edward Island, the majority being for Canadian points but some shipments includ- ing United States, France, Sweden, Holland, Germany, Switzerland, Nor- way, Japan, Finland, Scotland, Belgium and Checho-Slovakia.

GOs