Wright Stephenson was a stock and station agency founded in Dunedin, 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 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 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.