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.
Businessedit
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]
Diversificationedit
To dilute the seasonal and cyclical nature of their activities in the wool trade, Wright Stephenson developed extensive interests held in:
the motor vehicle industry including retail and wholesale trading and manufacturing
home-appliance stores, a chain of more than a dozen throughout New Zealand's main centres
warehouses engaged in the wholesale distribution of hardware, pharmaceuticals, veterinary supplies and general merchandise
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.
Referencesedit
^ abcA Century's Challenge: Wright Stephenson & Co. Limited 1861–1961, by J. C. Irving, 1961.
^ abcde"NMA Wright Stephenson Holdings Limited". The Times. No. 58466. 1 May 1972. p. 20.
^Challenge Corporation Limited. The Times, Thursday, 1 November 1973; pg. 26; Issue 58928
^Page 4, Large Companies, Forming PGG Wrightson, Te Ara The Encyclopedia of New Zealand
December 22, 2023
wright, stephenson, stock, station, agency, founded, dunedin, zealand, 1861, saleyard, dunedin, zealand, aotearoa, limitedrenamed, holdings, limited, 1972renamed, challenge, corporation, limited, 1973industrystock, station, agencypredecessorfoundeddunedin, zea. Wright Stephenson was a stock and station agency founded in Dunedin New Zealand in 1861 Wright Stephenson amp Co Saleyard Dunedin New Zealand Aotearoa Wright Stephenson amp Co Limitedrenamed NMA Wright Stephenson Holdings Limited 1972renamed Challenge Corporation Limited 1973IndustryStock and Station AgencyPredecessorWright StephensonFoundedDunedin New Zealand business 1861 1861 company 28 March 1906 1906 03 28 FounderJohn Wright and Robert RobertsonDefunctceased operations 1 July 1981 1981 07 01 Fate business merged with Fletcher Holdings Limited company dissolved 2000Successor1 July 1981 1981 07 01 Fletcher Challenge LimitedHeadquartersDunedin until 1918 then Wellington New ZealandNumber of locations100 Area servedNew Zealand Australia England 1 Key peopleWilliam HuntJames JohnstoneCliff PlimmerRon Trotter Contents 1 Foundation and development 2 Business 3 Diversification 4 Stock and station agencies acquired 5 Notable leaders 6 ReferencesFoundation and development editThe business was begun in 1861 as Wright Robertson amp 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 Business editOn 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 Diversification editTo dilute the seasonal and cyclical nature of their activities in the wool trade Wright Stephenson developed extensive interests held in the motor vehicle industry including retail and wholesale trading and manufacturing home appliance stores a chain of more than a dozen throughout New Zealand s main centres warehouses engaged in the wholesale distribution of hardware pharmaceuticals veterinary supplies and general merchandise major holdings in a quoted company operating 27 department stores a joint venture developing shopping centres and major commercial buildings 2 Stock and station agencies acquired edit1916 W amp G Turnbull amp Co established 1857 W Gunson amp Co established 18811920 Abraham amp Williams established 18841959 Wairarapa Farmers Co operative Association established 18681961 Buxtons established 1852 4 Notable leaders editThis section does not cite any sources Please help improve this section by adding citations to reliable sources Unsourced material may be challenged and removed June 2019 Learn how and when to remove this template message 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 References edit a b c A Century s Challenge Wright Stephenson amp Co Limited 1861 1961 by J C Irving 1961 a b c d e NMA Wright Stephenson Holdings Limited The Times No 58466 1 May 1972 p 20 Challenge Corporation Limited The Times Thursday 1 November 1973 pg 26 Issue 58928 Page 4 Large Companies Forming PGG Wrightson Te Ara The Encyclopedia of New Zealand Retrieved from https en wikipedia org w index php title Wright Stephenson amp oldid 1074585042, wikipedia, wiki, book, books, library,
