Hocken Digital Collections

NMA Company of New Zealand Limited : Records

Details

Reference NumberARC-0861CreatorNMA Company of New Zealand LimitedDescriptionThis large collection includes records from the London and Dunedin offices of NMA, and from some of the New Zealand branches. There are also records of some businesses which were taken over by or had an association with NMA, including the original predecessor firms George Gray Russell and Company; Russell, Ritchie and Company; and Russell, Le Cren and Company.
The largest part of the collection consists of correspondence and various financial records, together with records of shares and debentures. There are also minutes, reports, publications, plans, sound recordings and photographs, plus numerous miscellaneous items.
Only a small part of this collection is digitised and available through Digital Collections. Information about other items can be found on the Hākena catalogue, through the Library Catalogues link above.History / BiographyThe National Mortgage and Agency Company of New Zealand (NMA) was one of New Zealand's largest companies, providing finance for the rural sector and serving as a stock and station agency, with interests in freezing works, fishing and other enterprises. It has a complex organisational history. The company was founded in London in 1877 to invest in land in New Zealand; it became popular with small investors throughout Britain, but especially in Scotland. To improve its links with New Zealand, the company bought Russell, Ritchie and Company, with partners George Gray Russell and John Macfarlane Ritchie becoming general managers of NMA in New Zealand.
Russell, originally from England, had set up business as a merchant in Dunedin in 1864; Scotsman Ritchie joined the firm the following year and they became full partners in 1873, with George Gray Russell and Company renamed Russell, Ritchie and Company in 1874. Russell established a branch in Timaru in 1866; there he befriended fellow merchant Henry John Le Cren and they set up a new London business, Russell, Le Cren and Company. This firm was also purchased by NMA in 1878. Over the years NMA established branches around New Zealand, often through purchasing local firms. In some cases those firms continued under their own names, notable examples being Levin and Company Limited in Wellington and Alfred Buckland and Sons Limited in Auckland. NMA purchased stock and station firm Murray Roberts and Company Limited in 1961 - it had been founded in Dunedin in 1868.
Through the 20th century an increasing number of investors in NMA came from New Zealand, so in 1969 the head office and tax residence of the firm was shifted from London to Dunedin; it moved to Wellington a couple of years later. The firm had a formal change of name to NMA Company of New Zealand Limited in 1969. In 1972 NMA merged with Wright Stephenson, a large stock and station agency founded in Dunedin in 1861. The new firm, Wrightson NMA,assumed the name Challenge Corporation. In 1981 Challenge merged with Fletcher to become Fletcher Challenge, but some of the businesses within this group, including the stock and station arm, were later demerged. In 2005 Wrightson NMA and Pyne Gould Guinness merged to become PGG Wrightson.
Through the 20th century an increasing number of investors in NMA came from New Zealand, so in 1969 the head office and tax residence of the firm was shifted from London to Dunedin; it moved to Wellington a couple of years later. The firm had a formal change of name to NMA Company of New Zealand Limited in 1969. In 1972 NMA merged with Wright Stephenson, a large stock and station agency founded in Dunedin in 1861. The new firm, Wrightson NMA,assumed the name Challenge Corporation. In 1981 Challenge merged with Fletcher to become Fletcher Challenge, but some of the businesses within this group, including the stock and station arm, were later demerged. In 2005 Wrightson NMA and Pyne Gould Guinness merged to become PGG Wrightson.

Photograph

Remodelled three storey buildings on the corner of Water and Cumberland streets

Depicts Or Relates To

SubjectsBusiness enterprises - DunedinStock and Station AgentsRuns and runholdingAgricultureFinance

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NMA Company of New Zealand Limited : Records

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