Wright Stephenson was a

stock and station agency 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.In his book Simon Ville states: "The term stock and station agent is va ...

founded in

Dunedin Dunedin ( ; mi, Ōtepoti) is the second-largest city in the South Island of New Zealand (after Christchurch), and the principal city of the Otago region. Its name comes from , the Scottish Gaelic name for Edinburgh, the capital of Scotland. Th ...

, New Zealand, in 1861.

Foundation and development

The business was begun in 1861 as Wright, Robertson & Co by partners John Wright and Robert 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 limited company A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company ...

in 1906.''A Century's Challenge: Wright Stephenson & Co. Limited 1861–1961'', by JC Irving, 1961. By 1972, just before merging with

National Mortgage and Agency Company of New Zealand 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 19 ...

(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 Melbourne ( ; Boonwurrung/Woiwurrung: ''Narrm'' or ''Naarm'') is the capital and most populous city of the Australian state of Victoria, and the second-most populous city in both Australia and Oceania. Its name generally refers to a met ...

and

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

, 15 sub-branches in Australia, and four 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. Following the January 1981 merger of Challenge with Fletcher Construction and Tasman Pulp and Paper — which did not provide the desired financial stability —

Fletcher Challenge 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, init ...

was demerged in 2001. The stock and station agency operations now form a core part of the business

PGG Wrightson 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 ...

Business

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. The company also promoted local livestock by supporting national shows, breed societies, and pastoral associations. Working capital and capital was provided to the farming industry together with advice on farm accounting, budgeting, taxation and estate planning.

Diversification

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

Toyota New Zealand Toyota New Zealand Limited is the importer and distributor of new Toyota and Lexus vehicles to New Zealand. It also imports used vehicles from Japan and refurbishes them at its former assembly plant in Thames. Until 1998 it also assembled a va ...

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 A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

with Lendlease developing shopping centres and major commercial buildings.

Stock and station agencies acquired

1916 * W & G Turnbull & Co established 1857 * W Gunson & Co established 1881 1920 * Abraham & Williams established 1884 1959 * Wairarapa Farmers' Co-operative Association established 1868 1961 * Buxtons established 1852Page 4, Large Companies, Forming

, ''Te Ara The Encyclopedia of New Zealand''

Notable leaders

Wright Stephenson produced a number of New Zealand's most prominent businessmen of the 19th and 20th century including

William Hunt William Hunt may refer to: Australia * Bill Hunt (cricketer) (1908–1983), Australian Test cricketer of the 1930s * William Hunt (sprinter) (1898–1977), Australian Olympic sprinter New Zealand * Sir William Hunt (businessman) (1867–1939), N ...

, David Allan, Clifford Plimmer and

Ronald Trotter Sir Ronald Ramsay Trotter (9 October 1927 – 11 August 2010) was one of New Zealand's pre-eminent business leaders. He was knighted for his service to business in 1985. Early life and family Born in Hāwera on 9 October 1927, Trotter was the s ...

References

{{reflist Agriculture companies established in the 19th century Agriculture companies disestablished in the 20th century Business services companies established in 1861 Business services companies disestablished in the 20th century Companies based in Wellington Defunct companies of New Zealand New Zealand stock and station agencies 1861 establishments in New Zealand 1981 disestablishments in New Zealand