Circular Letter of Credit issued by the Nederlandsche Bank voor Zuid-Afrika.
Payed in full to Mr. A.F.G.M. van Thiel Coovels in Pretoria, South Africa.
Van Thiel, a Dutch citizen, born in Helmond, the Netherland seems to have lived in South Africa prior to the German invasion of the Netherlands in 1940. 
Salient detail is that the last and complete withdrawl of this L/C was done on May 16, 1940, the day right after the Dutch army capitulated to the Germans. Probably to secure his money from this Dutch governed Bank before anything might go wrong.
Mr. A.F.G.M. van Thiel Coovels lived in Portugal for a while after WWII and later was the Chairman of the Dutch Mining Industry Council during the 1960's.
This item contains the complete Circular Letter of Credit, including the second page, listing all the withdrawls. Also included is the personal identification card that the Van Thiel had to show each time a withdrawl was done. Because the L/C was completely drawn, both documents were marked "Cancelled 16/5/1940"