Chartered company only left with $320
Published on: Thursday, October 18, 1962
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NORTH BORNEO NEWS & SABAH TIMES - (Thursday, October 18, 1962) - JESSELTON, Wed. - The liquidator of The British North Borneo Company - the "Chartered Company" - has following the completion of the liquidation received a small distribution on an old investment of the Chartered Company, according to a letter from the Liquidator to the Chairman of the Social Welfare Committee, here.

The letter signed by Mr K. V. Thompson, of the Turquand, Youngs & Co., for the Liquidator, states: "The amount of slightly over £35 is too small to justify the re-constitution of the Chartered Company and it is therefore felt by the Liquidator that it would be appropriate of this sum was passed to your for charitable use as your committee sees fit in North Borneo.

"I therefore enclose a cheque for the amount involved ($320.11) to be applied for charitable purposes to North Borneo at your committee's discretion.

"In closing this letter, I would mention that this may well be the last occasion on which an official letter from the old Chartered Company is written and therefore I hope that the small gift can be accepted with the best wishes for the future of North Borneo from the liquidator of the older regime," the letter ended.


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