Industry | Stock and Station Agency |
---|---|
Predecessor | Wright Stephenson |
Founded | Dunedin, New Zealand (business) (1861 (company) 28 March 1906 | )
Founder | John Wright and Robert Robertson |
Defunct | ceased operations 1 July 1981 |
Fate | (business) merged with Fletcher Holdings Limited (company) dissolved 2000 |
Successor | 1 July 1981 Fletcher Challenge Limited |
Headquarters | Dunedin until 1918 then Wellington , |
Number of locations | 100+ |
Area served | New Zealand, Australia, England [1] |
Key people |
Wright Stephenson was a stock and station agency founded in Dunedin, New Zealand, in 1861.
The business was begun in 1861 as Wright, Robertson, & Co. by partners John T. Wright and Robert M. Robertson as a result of a population boom fueled by the Otago Gold Rush. Robertson left in 1868 and was replaced by auctioneer John Stephenson. Wright and Stephenson retired from the company in 1899. Due to significant growth in the volume of its business activities, ownership was switched to a public listed company in 1906. [1] [2]
By 1972, just before merging with National Mortgage and Agency Company of New Zealand (NMA), it had developed 27 stock and station branches throughout New Zealand with more than 100 further sub-branches and agencies to service farming areas throughout the country. As well, by the time of its centenary in 1961, the company had established managerial offices in Melbourne and London, 15 sub-branches in Australia, and 4 sub-branches in Britain.
After the merger with NMA, the company was known from 23 March 1972 as NMA Wright Stephenson Holdings Limited until 1973 when the name Challenge Corporation was assumed. [3] [2]
Following the January 1981 merger of Challenge with Fletcher Holdings and Tasman Pulp and Paper — which did not provide the desired financial stability — the Fletcher Challenge group was demerged in 2001.
The stock and station agency operations now form a core part of the business PGG Wrightson.
On behalf of its farming clients, Wright Stephenson handled the sale and auction of livestock, wool, land, grain and seed as well as provided services to meet a range of agricultural and pastoral requirements. [2] The company also promoted local livestock by supporting national shows, breed societies, and pastoral associations. [1]
Working capital and capital was provided to the farming industry together with advice on farm accounting, budgeting, taxation and estate planning. [2]
To dilute the seasonal and cyclical nature of their activities in the wool trade, Wright Stephenson developed extensive interests held in:
1916
1920
1959
1961
Wright Stephenson produced a number of New Zealand's most prominent businessmen of the 19th and 20th century including Sir William Hunt, David Allan, Sir Clifford Plimmer and Sir Ronald Trotter.
Elders Limited, formerly known as Elder, Stirling & Co., Elder Smith and Co. and Elder Smith & Co. Ltd, is an Australian agribusiness that provides agricultural goods and services to primary producers in Australia and New Zealand.
Fletcher Challenge was a multinational corporation from New Zealand. It was formed in 1981 by the merger of Fletcher Holdings, Challenge Corporation and Tasman Pulp and Paper. It had holdings in construction, forestry, building, and energy, initially just within New Zealand and then internationally as well, and at one time was the largest company in New Zealand. In 2001 it was split into three companies, Fletcher Challenge Forests, Fletcher Building, and Rubicon.
Stock and station agencies are businesses which provide a support service to the agricultural community. Their staff who deal with clients are known as stock and station agents. They advise and represent farmers and graziers in business transactions that involve livestock, wool, fertiliser, rural property and equipment and merchandise on behalf of their clients. The number and importance of these businesses fell in the late 20th century.
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PGG Wrightson Limited is an agricultural supply business based in New Zealand. It was created in 2005 through the merger of Pyne Gould Guinness Ltd and Wrightson Limited and has its roots in a number of stock and station agencies dating back to 1861. It is one of the major suppliers to the agricultural sector in New Zealand providing products such as seeds, grains, livestock, irrigation, farm equipment, insurance and financing. Although publicly listed in New Zealand on the NZX, PGG Wrightson has been majority owned by Chinese-based Agria Corporation since 2011.
Sir William Duffus Hunt known before his knighthood as W D Hunt, was a leading New Zealand businessman of the first half of the 20th century. With his partner James Johnstone, he built one of Australasia's leading stock and station agencies, Wright Stephenson & Co.
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Henry John Le Cren was a New Zealand merchant. Born in London, he was an early settler in Lyttelton and traded both in the port town and central Christchurch. He moved to Timaru in 1858 and is regarded as one of the town's pioneers. Companies owned by him or his eldest son are predecessors to the New Zealand agricultural supply business PGG Wrightson.
Murray Roberts & Co Limited owned a stock and station agency in New Zealand. For a time, it was New Zealand's largest wool exporter. Its business began in Green Island, Dunedin as a fellmongery owned by the Melbourne partners. Under direction of young John Roberts from 1867, it made very substantial investments in rural property in Otago and Hawke's Bay and spread as a stock and station agency through Otago and Southland and the lower half of the North Island.
National Mortgage and Agency Company of New Zealand Limited owned a nationwide stock and station agency business originally intended to invest directly in New Zealand pastoral activities and lend to other participants in that industry. By the 1960s as well as the export of wool and meat and dealing in livestock it provided grain and seed merchandising, wholesale grocery services including wines and spirits and arrangement of property and other real estate sales.
Williams & Kettle Limited with headquarters in Napier, New Zealand, owned a stock and station agency business and a general merchants business with branches throughout the east coast of the North Island of New Zealand. Incorporated as a co-operative in 1891, it had been founded in 1885 by landowner and businessman Frederic Williams (1854–1940) with Nathaniel Kettle (1854–1940), a brother-in-law of John Roberts the local principal of Dunedin's Murray Roberts and a former Murray Roberts & Co employee.
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