National Mortgage & Agency Co of NZ Ltd (NMA)
Date established
1877
Date closed
1972
History
The National Mortgage and Agency Co. of New Zealand Ltd was formed in 1877 and a prospectus issued.
In 1878 the firm purchased Russell Ritchie & Co and Russell Le Cren & Co.
NMA Company had a long history in the stock and station industry, beginning as Russell Ritchie & Co in Dunedin in 1864. NMA grew steadily through acquisition and expansion and gradually diversified. In the 1920's the first of an extensive fishing fleet and freezers were established and the company pioneered the export of crayfish tails and became a leader in the industry. Meat exporting was another activity developed by the company.
A period of considerable growth in the 1950's saw NMA expand from a predominantly South Island company to full New Zealand coverage. The wide range of machinery activities in the company was consolidated under the control of MacEwans Machinery Limited and the manufacture of canvas goods and protective clothing was developed in two factories in Dunedin and Auckland. In 1961 it took over one of the oldest stock and station businesses in the country, Levin & Co, which was established in 1840.
With the merger between Wright Stephenson and NMA, the directors sought a new name which would be "synonymous with the united, diversified and forward looking character" and decided to name the new company, Challenge Corporation Limited. In 1980, Challenge Corporation reported earnings of $22.5 million from sales of $929.6 million and its assets were $761.8 million.
Records produced by NMA are also held by the Hocken Collection, University of Otago, Dunedin.
In 1878 the firm purchased Russell Ritchie & Co and Russell Le Cren & Co.
NMA Company had a long history in the stock and station industry, beginning as Russell Ritchie & Co in Dunedin in 1864. NMA grew steadily through acquisition and expansion and gradually diversified. In the 1920's the first of an extensive fishing fleet and freezers were established and the company pioneered the export of crayfish tails and became a leader in the industry. Meat exporting was another activity developed by the company.
A period of considerable growth in the 1950's saw NMA expand from a predominantly South Island company to full New Zealand coverage. The wide range of machinery activities in the company was consolidated under the control of MacEwans Machinery Limited and the manufacture of canvas goods and protective clothing was developed in two factories in Dunedin and Auckland. In 1961 it took over one of the oldest stock and station businesses in the country, Levin & Co, which was established in 1840.
With the merger between Wright Stephenson and NMA, the directors sought a new name which would be "synonymous with the united, diversified and forward looking character" and decided to name the new company, Challenge Corporation Limited. In 1980, Challenge Corporation reported earnings of $22.5 million from sales of $929.6 million and its assets were $761.8 million.
Records produced by NMA are also held by the Hocken Collection, University of Otago, Dunedin.
Creating agency for:
Share
We’re continuing to work on improving the quality of our data, so please bear with us in the meantime. If something is not clear or seems incorrect, don’t hesitate to contact us using the online enquiries form.