American Trading Company of Borneo
| Company type | Chartered company |
|---|---|
| Industry | Trading, plantation agriculture |
| Founded | 1865 |
| Founder | Joseph William Torrey, Thomas Bradley Harris, Lee Assing, Pong Ampong |
| Defunct | 1881 |
| Headquarters | United States |
Area served | Northern Borneo |
Key people | Joseph William Torrey (governor), Thomas Bradley Harris (vice-governor), Charles Lee Moses (initial concession holder) |
| Products | Sugarcane, tobacco, rice plantations |
The American Trading Company of Borneo was a chartered company formed by Joseph William Torrey, Thomas Bradley Harris, and several Chinese investors after securing land in northern Borneo from the Sultanate of Brunei. Their initial American settlement, called 'Ellena', was eventually deserted due to financial struggles, illness, and worker unrest.
History
In 1850, a commercial agreement was made between the United States and Brunei, which came into effect in 1865. Subsequently, Charles Lee Moses, serving as the US First Consul to Brunei, obtained a decade-long lease for a large territorial concession in North Borneo from Sultan Abdul Momin and his successor. This concession was intended to help resolve internal conflicts and suppress rebellion and piracy. Moses quickly sought purchasers, attracting American businessmen Joseph William Torrey and Thomas Bradley Harris, who operated out of Hong Kong. Motivated by accounts of plentiful resources such as gold, diamonds, and spices, they acquired the concession in September 1865.
In October 1865, Torrey and Harris partnered with Chinese financiers Lee Assing and Pong Ampong to establish the American Trading Company of Borneo, aiming to develop a colony at Kimanis centered on plantation agriculture. Since the original concession was granted to Moses, Torrey obtained a fresh concession letter on November 24, 1865, ratified by the Sultan and his council. This document bestowed upon Torrey significant control over the area—including authority over life and death—and conferred the title "Rajah of Ambong and Marudu," which led to his moniker "Yankee Rajah."
By December 1865, Torrey spearheaded the establishment of 'Ellena' with a group comprising 12 Americans and 60 Chinese settlers. He appointed himself governor while naming Harris vice-governor. Their objective to cultivate sugarcane, tobacco, and rice plantations faltered due to Ellena’s unfavorable position at the mouth of the slow-moving Kimanis River, which contributed to malaria outbreaks. The settlement also faced financial difficulties. Torrey temporarily departed to seek funding in Hong Kong and Shanghai; meanwhile, Harris succumbed to malaria in May 1866.
By 1866, Ellena was deserted amid financial shortages, labor disturbances, and disease. The venture's collapse left Torrey financially ruined while Moses remained unpaid for the concession. Nearly nine years later, just before the lease expired, the group sold their rights in January 1876 to German Baron von Overbeck for $15,000—conditional upon obtaining an extension of concessions from the Sultan within nine months.
Literature
- Joseph William Torrey: American Trading Company of Borneo Organized Under Special Concession from His Highness the Sultan of Borneo, and the General Laws of the State of New York. 1868