State of North Borneo & Putatan

In 1865, the United States Consul to Brunei, Charles Lee Moses, obtained a 10-year lease for the territory of North Borneo from the Sultan of Brunei. However, the post-Civil War United States wanted nothing to do with Asian colonies, so Moses sold his rights to the Hong Kong-based American Trading Company of Borneo owned by Joseph William Torrey, Thomas Bradley Harris, Tat Cheong and possibly other Chinese merchants. Torrey began a settlement at the Kimanis River mouth, which he named Ellena. Attempts to find financial backing for the settlement were futile, and disease, death and desertion by the immigrant labourers led to the abandonment of the settlement towards the end of 1866.
With the imminent termination of the lease at hand in January 1875, Torrey managed to sell his rights to the Consul of the Austro-Hungarian Empire in Hong Kong, Baron Von Overbeck. Von Overbeck managed to get a 10-year renewal of the lease from the Temenggong of Brunei, and a similar treaty from the Sultan of Sulu on January 22, 1878. To finance his plans for North Borneo, Overbeck found financial backing from the Dent brothers (Alfred and Edward). However, he was unable to interest his government in the territory. After efforts to sell the territory to Italy for use as a penal colony, Von Overbeck withdrew in 1880, leaving Alfred Dent in control. Dent was supported by Sir Rutherford Alcock, and Admiral Sir Harry Keppel.
In July 1881, Alfred Dent and his brother formed the British North Borneo Provisional Association Ltd and obtained an official Royal Charter November 1 the same year. In May 1882, the British North Borneo Chartered Company replaced the Provisional Association. Sir Rutherford Alcock became the first President, and Alfred Dent became Managing Director. In spite of some diplomatic protests by the Dutch, Spanish and Sarawak governments, the British North Borneo Company proceeded to organize settlement and administration of the territory. The company subsequently acquired further sovereign and territorial rights from the sultan of Brunei, expanding the territory under control to the Putatan river (May 1884), the Padas district (November 1884), the Kawang river (February 1885), the Mantanani islands (April 1885), and additional minor Padas territories (March 1898).
The Company established a foundation for economic growth in North Borneo by restoring peace to a land where piracy and tribal feuds had grown rampant. It abolished slavery and set up transport, health and education services for the people. Chinese immigrants were wooed to boost the small population of less than 100,000. Through the combined effort of the locals and immigrants, towns, farms, a timber industry, tobacco and rubber plantations began to thrive.