AN INTERESTING BUSINESS CHANGE

Dominion, Volume 13, Issue 68, 13 December 1919, Page 10

AN INTERESTING BUSINESS CHANGE

A business change of considerable interest and importance has just been completed between' two old-established New Zealand firms. Under it Messrs. Wright, Stephenson, and Co., Ltd., the well-known South Island linn, who have during recent years opened up in the North Island, have no>v added to their North Island connection by acquiring a considerable holding of shares, with limited voting power*, in Messrs. Abraham and AVnliams, Ltfl. This arrangement brings together twovervold stock auctioneering (inns. Messrs. Wright, Siepheuson, and Co, Ltd., started business in Duncdin ill the year 18(51—ovor 58 ?;ears ago-and have gradually spread until, in addition to the D lined in business, Ihey now liavo branches in Invercnnjill, Christchrtirch, Gore, Oamaru, Edendale, Kelso. Ashburton. and Blenheim, in Ihe South Island, and Wellington, Auckland, Wanganui, and Alasterton, in the North Island. 'Ihey al«o have a branch in London. Messrs. Abraham and Williams, Ltd., have their head office in Palmerston North, whero the business was opened up in 18S2 by the late Mr. John Stevens, who sold out his interests 1 in 1884 in the firm of Messrs. Stevens and Gorton to Mr. H. S, Abraham. Later on the firm of Stevens and 'Gorton ivas dissolved, Colonel Gorton retaining the liangiHkei business, whilst Mr. Abraham carried on the southern poriinn of the business, in partnership with Mr. Alex. Williams, of Tlawke's Hay. When Mr. Williams dropped out. Mr. Abraham took into imrtnnrshm with him ihe late Mr. 0. C. Cooper and Mr. 0. IT. Porritt, of Palmerslon North. The business was formed into a company in 1001, under the style of Abraham and Williams,' Ltd. . , ~ . Messrs. Wright. Stenhenson, and Co., in addition to their'stock and wool business,, hnvfi for many yenrs been an important factor in the Now Zealand produce, manure, and seed business. Messrs. Abraham «im(l Williams, Ltd., now intend to enter largely into these lines also, and have appointed ag manager of this do*

partiaent Mr. F. J. C. Wilson, of Inver- | cargill, who has held an important position in the produco department of Messrs. Wright, Stephenson, i'nd Co.'s Invercargill branch. Messrs. W. D. Hunt and J. T. Martin, two of the directors of Messrs. Wright, Stephenson, and Co., Ltd., have joined the board of directors of Messrs. Abraham and Williams, Ltd., and Mr. R. S. Abraham, founder and present chairman of Messrs. Abraham and Williams, joins the board of directors of Messrs. Wright, Stephenson, and Co., Ltd. The two firms will still continue to carry on their business independently of each other.