1. That the French be limited not to trade by wood-runners, or otherwise, nor build any House, Factory, or Fort, beyond the bounds of 53 degrees, or Albany River, vulgarly called Chechewan, to the northward, on the west or main coast.
2. That the French be likewise limited not to trade by wood-runners, or otherwise, nor build any House, Factory, or Fort, beyond Rupert's River, to the northward, on the east or main coast.
3. On the contrary, the English shall be obliged not to trade by wood-runners, or otherwise, nor build any House, Factory, or Fort, beyond the aforesaid latitude of 53 degrees, or Albany River, vulgarly called Chechewan, south-east towards Canada, on any land which belongs to the Hudson's Bay Company.
4. As also the English be likewise obliged not to trade by wood-runners, or otherwise, nor build any House, Factory, or Fort, beyond Rupert's River, to the south-east, towards Canada, on any land which belongs to the Hudson's Bay Company.
5. As likewise, that neither the French or English shall at any time hereafter extend their bounds contrary to the aforesaid limitations, nor instigate the natives to make war, or join with either, in any acts of hostility to the disturbance or detriment of the trade of either nation, which the French may very reasonably comply with, for that they by such limitations will have all the country south-eastward betwixt Albany Fort and Canada to themselves, which is not only the best and most fertile part, but also a much larger tract of land than can be supposed to be to the northward, and the Company deprived of that which was always their undoubted right.
And unless the Company can be secured according to these propositions, they think it will be impossible for them to continue long at York Fort (should they exchange with the French), nor will the trade answer their charge; and therefore if your lordships cannot obtain these so reasonable propositions from the French, but that they insist to have the limits settled between [Albany and] York and Albany Fort, as in the latitude of 55 degrees or thereabouts, the Company can by no means agree thereto, for they by such an agreement will be the instruments of their own ruin, never to be retrieved.