Who could have imagined that in the 1940s, there was still a remnant of the 19th century!
The North Borneo Company!
A company that owned a colony.
On that piece of land, the company was the law, it was everything.
And now, the North Borneo Company’s predicament made Li Yi’an see an opportunity.
By seizing this opportunity, he could make the company his own.
It’s just…
can this opportunity be seized?
For a moment, Li Yi’an’s brow furrowed, and his expression became somewhat solemn.
Such a god-given opportunity, if missed, would be too much of a pity.
Moreover, buying it is easy, keeping it is hard!
“Sir, your judgment of this company is undoubtedly correct.
For now, selling the company is the best choice for the directors of the North Borneo Company.
But as your lawyer, my advice is that you shouldn’t acquire it.
After all, God knows whether the British government will take back the company’s land and other property after the war ends.”
As a King’s Counsel, Ian Thorpe, really couldn’t understand why anyone was still scheming for this company now.
“Then, do they have this power?”
Li Yi’an asked back.
The King’s Counsel in front of him was worth 1,000 pounds.
To buy the North Borneo Company, he definitely couldn’t do without such a person, needing him to step forward and coordinate many matters.
“This…”
Ian Thorpe thought for a while, then shook his head and said:
“Legally speaking, the British government has no power to take back North Borneo’s land and its property.
After all, North Borneo is the equity of an American company purchased by the British merchant Dent and others in 1880.
Even though it obtained a royal charter in 1881, it cannot change the fact that it is a private company and Borneo is company territory.
But they have the power to revoke the royal charter it holds.
After revoking the charter, Britain will not provide it with national defense and diplomatic protection, which means it will be exposed to other countries.”
There is actually such a good thing!
Li Yi’an almost wanted to laugh out loud.
Originally, his biggest worry was that Britain had the power to take back the colony; that was the biggest problem.
He didn’t expect such an unexpected gain.
“Exposed?
That’s not a problem, as long as they don’t have the power to take back the company.
By the way, do they have the power to stop me from acquiring the company?” This story is hosted at g.com.
Faced with the client’s question, Ian Thorpe, who had received colonial clients more than once, said in a very haughty tone:
“Sir, this is London, not the colonies.
Britain is a country that values the rule of law.
No one has the right to stop you from acquiring any enterprise, and the North Borneo Company is just an enterprise.
Of course, enterprise owners excluded.”
Then he flipped through a report in front of him and added:
“The board of directors of the North Borneo Company currently consists of five directors.
According to company law, as long as two out of the five directors agree, a proposal can be passed.
In reality, the five members of the board of directors combined only control forty-eight percent of the company’s total stock.
The other fifty-two percent is scattered in the hands of more than 5,300 large and small shareholders throughout Britain.
A considerable portion of these people seem to be married women or widows.
After all, many people bought stocks before World War I, and most of those people died in World War I.
Undoubtedly, after the Japanese occupied North Borneo, the company’s stock certificates are actually completely worthless, and they even need to pay debt interest.”
As King’s Counsel Ian Thorpe, although he couldn’t figure out why someone would be interested in a company destined to disappear into history, as a lawyer he still suggested:
“So, sir, I feel right now is not the time to acquire it.
If you are determined to acquire this company, you can wait until next year.
Wait until next year when they receive the bond interest collection notices again, I believe by then, they will be eager to transfer the shares to you free of charge.
After all, everyone knows…”
Closing the file folder, Ian Thorpe pushed up his black-framed glasses and said:
“The British colonies after the war will definitely head towards self-government, and colonial companies definitely cannot continue operating.
The stocks in their hands will naturally be completely worthless.
Before the war, its stock price was 18 shillings per share, but now it’s 1 shilling 3 pence per share.
By next year, the price will be even lower.”
Leaning forward in his chair, elbows resting on the desk, Ian Thorpe said:
“But we definitely won’t acquire it at this price.
If you haven’t changed your mind by next year, I can help you realize your wish at a very cheap price.”
…
Very cheap?
How cheap, Li Yi’an didn’t know, but he soon came directly to see White.
As a member of the board of directors, although he wasn’t the company’s largest shareholder, he was one of the top five shareholders, and he had served in the company for many years.
As one of the company’s managers, White was very clear about the current status of the North Borneo Company.
The current status was…
the North Borneo Company was finished!
Over the past few decades, White had always relied on dividends to maintain an extremely decent life, but after the war broke out, the good days ended.
The annual dividends not only required paying a 99.5% personal income tax, but the dividends always arrived late.
Once Japan occupied the North Borneo Company, there was simply not a penny left.
Moreover, shareholders also needed to pay debt interest according to the law.
It had to be said that as a shareholder, he was also very miserable.
At this time, he was sizing up this Chinese person in front of him.
When he was young, as the company’s deputy manager, he had lived in North Borneo and Singapore for over twenty years, and he was not unfamiliar with Chinese people.
“So, you are interested in the shares in my hands.”
Li Yi’an’s lips curled up, and he said:
“Mr.
White, I am helping you solve a problem.”
While speaking, he took out a Lucky Strike cigarette from his golden cigarette case.
After handing it to White, he picked up a lighter to light the cigarette, took a puff, looked at him, and said:
“Interest, how should I put it?
In this world, businessmen are always interested in profits, but no businessman is interested in losing money.
As everyone knows, everyone including the Secretary of State for the Colonies admits that after the war, colonies must at least be allowed to self-govern.
This also means that after the war ends, the North Borneo Company is very likely to cease operations.”
As soon as he finished speaking, White cast a nonchalant glance at him, then took a puff of tobacco, and said:
“Mr.
Li, everything you said will not happen.
How could the company cease operations?
After the war ends, the company will take back everything.”
“Take back everything?
Take back what?”
Li Yi’an sneered and said sarcastically:
“Take back a pile of ruins?”
(END CHAPTER)
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