The grant was also pending the annual provision of 200 men to the company and Selkirk's assurance that the colony would remain out of the fur trade. Selkirk, who once mocked the fur trade for rarely grossing more than £200,000 and only having 3 ships employed in its service, gladly agreed to the terms.: Selkirk referred to this new territory as the District of Assiniboia. At the time of the concession, Red River was the only Hudson Bay Colony that had been established within the company's territory.