This article analyzes the impact of territorial conditions of the north-eastern Siberia upon the fur swapping development by the example of trading houses. The two concepts of the «Bulun merchants», traded to the east of the village Bulun, and the «Ustyansky merchants», traded to the west in the mountainous tundra, were formed among fur traders in the IId half of the XIXth c. The trade in the eastern lowland tundra exerted influence on the turn-over of capital and later formation of the large merchants houses for fur trade.