Networks and venture capital in the Australasian pastoral sector before World War Two

Business History

Volumn 38, Issue 3, 1996, Pages 48-63

  Ville, Simon ^a  

^a AUSTRALIAN NATIONAL UNIVERSITY   (Australia)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0041333242     PISSN: 00076791     EISSN: 17437938     Source Type: Journal    
DOI: 10.1080/00076799600000094     Document Type: Article

References (61)

1. For example see A. Barnard, The Australian Wool Market (Melbourne, 1958); N.G. Butlin, Investment in Australian Economic Development, 1861-1900 (London, 1964), Ch.2; and G. Hawke, The Making of New Zealand (Cambridge, 1985), Chs.2, 5.
2. For example see A. Barnard, The Australian Wool Market (Melbourne, 1958); N.G. Butlin, Investment in Australian Economic Development, 1861-1900 (London, 1964), Ch.2; and G. Hawke, The Making of New Zealand (Cambridge, 1985), Chs.2, 5.
3. For example see A. Barnard, The Australian Wool Market (Melbourne, 1958); N.G. Butlin, Investment in Australian Economic Development, 1861-1900 (London, 1964), Ch.2; and G. Hawke, The Making of New Zealand (Cambridge, 1985), Chs.2, 5.
4. This view has been hypothesised by several writers but never investigated in any detail. For example, see Butlin, Investment, p.421; Barnard, Wool Market, p.51; R. Gore, Levins (Wellington, 1956), p. 168.
5. This view has been hypothesised by several writers but never investigated in any detail. For example, see Butlin, Investment, p.421; Barnard, Wool Market, p.51; R. Gore, Levins (Wellington, 1956), p. 168.
6. This view has been hypothesised by several writers but never investigated in any detail. For example, see Butlin, Investment, p.421; Barnard, Wool Market, p.51; R. Gore, Levins (Wellington, 1956), p. 168.
7. There are a spattering of agency histories, including L. Anderson, Throughout the East Coast: The Story of Williams & Kettle Ltd (Hastings, 1974); J.H. Angus, Donald Reid Otago Farmers Ltd: A History of Service to the Farming Community of Otago (Dunedin, 1978); J.D. Bailey, A Hundred Years of Pastoral Banking: A History of the Australian Mercantile, Land and Finance Company, 1863-1963 (Oxford, 1966); A. Barnard, Visions and Profits: Studies in the Business Career of T.S. Mort (Melbourne, 1961); Gore, Levins; J.C. Irving, A Century's Challenge: Wright Stephenson and Company Ltd, 1861-1961 (Wellington, 1961); P.G Stevens, Pyne, Gould, Guinness Ltd (Christchurch, 1970).
8. There are a spattering of agency histories, including L. Anderson, Throughout the East Coast: The Story of Williams & Kettle Ltd (Hastings, 1974); J.H. Angus, Donald Reid Otago Farmers Ltd: A History of Service to the Farming Community of Otago (Dunedin, 1978); J.D. Bailey, A Hundred Years of Pastoral Banking: A History of the Australian Mercantile, Land and Finance Company, 1863-1963 (Oxford, 1966); A. Barnard, Visions and Profits: Studies in the Business Career of T.S. Mort (Melbourne, 1961); Gore, Levins; J.C. Irving, A Century's Challenge: Wright Stephenson and Company Ltd, 1861-1961 (Wellington, 1961); P.G Stevens, Pyne, Gould, Guinness Ltd (Christchurch, 1970).
9. There are a spattering of agency histories, including L. Anderson, Throughout the East Coast: The Story of Williams & Kettle Ltd (Hastings, 1974); J.H. Angus, Donald Reid Otago Farmers Ltd: A History of Service to the Farming Community of Otago (Dunedin, 1978); J.D. Bailey, A Hundred Years of Pastoral Banking: A History of the Australian Mercantile, Land and Finance Company, 1863-1963 (Oxford, 1966); A. Barnard, Visions and Profits: Studies in the Business Career of T.S. Mort (Melbourne, 1961); Gore, Levins; J.C. Irving, A Century's Challenge: Wright Stephenson and Company Ltd, 1861-1961 (Wellington, 1961); P.G Stevens, Pyne, Gould, Guinness Ltd (Christchurch, 1970).
10. There are a spattering of agency histories, including L. Anderson, Throughout the East Coast: The Story of Williams & Kettle Ltd (Hastings, 1974); J.H. Angus, Donald Reid Otago Farmers Ltd: A History of Service to the Farming Community of Otago (Dunedin, 1978); J.D. Bailey, A Hundred Years of Pastoral Banking: A History of the Australian Mercantile, Land and Finance Company, 1863-1963 (Oxford, 1966); A. Barnard, Visions and Profits: Studies in the Business Career of T.S. Mort (Melbourne, 1961); Gore, Levins; J.C. Irving, A Century's Challenge: Wright Stephenson and Company Ltd, 1861-1961 (Wellington, 1961); P.G Stevens, Pyne, Gould, Guinness Ltd (Christchurch, 1970).
11. There are a spattering of agency histories, including L. Anderson, Throughout the East Coast: The Story of Williams & Kettle Ltd (Hastings, 1974); J.H. Angus, Donald Reid Otago Farmers Ltd: A History of Service to the Farming Community of Otago (Dunedin, 1978); J.D. Bailey, A Hundred Years of Pastoral Banking: A History of the Australian Mercantile, Land and Finance Company, 1863-1963 (Oxford, 1966); A. Barnard, Visions and Profits: Studies in the Business Career of T.S. Mort (Melbourne, 1961); Gore, Levins; J.C. Irving, A Century's Challenge: Wright Stephenson and Company Ltd, 1861-1961 (Wellington, 1961); P.G Stevens, Pyne, Gould, Guinness Ltd (Christchurch, 1970).
12. There are a spattering of agency histories, including L. Anderson, Throughout the East Coast: The Story of Williams & Kettle Ltd (Hastings, 1974); J.H. Angus, Donald Reid Otago Farmers Ltd: A History of Service to the Farming Community of Otago (Dunedin, 1978); J.D. Bailey, A Hundred Years of Pastoral Banking: A History of the Australian Mercantile, Land and Finance Company, 1863-1963 (Oxford, 1966); A. Barnard, Visions and Profits: Studies in the Business Career of T.S. Mort (Melbourne, 1961); Gore, Levins; J.C. Irving, A Century's Challenge: Wright Stephenson and Company Ltd, 1861-1961 (Wellington, 1961); P.G Stevens, Pyne, Gould, Guinness Ltd (Christchurch, 1970).
13. There are a spattering of agency histories, including L. Anderson, Throughout the East Coast: The Story of Williams & Kettle Ltd (Hastings, 1974); J.H. Angus, Donald Reid Otago Farmers Ltd: A History of Service to the Farming Community of Otago (Dunedin, 1978); J.D. Bailey, A Hundred Years of Pastoral Banking: A History of the Australian Mercantile, Land and Finance Company, 1863-1963 (Oxford, 1966); A. Barnard, Visions and Profits: Studies in the Business Career of T.S. Mort (Melbourne, 1961); Gore, Levins; J.C. Irving, A Century's Challenge: Wright Stephenson and Company Ltd, 1861-1961 (Wellington, 1961); P.G Stevens, Pyne, Gould, Guinness Ltd (Christchurch, 1970).
14. Butlin, Investment, pp. 122-4.
15. University of Melbourne (hereafter UMA), Denny Lascelles (hereafter DL), incorrespondence from Donald Brothers, 1892.
16. This is the subject of S. Eldred-Grigg, A Southern Gentry (Wellington, 1980).
17. S.J. Butlin, Foundations of the Australian Monetary System, 1788-1851 (Sydney, 1953), pp.258-74.
18. S.J. Butlin, The Australian Monetary System, 1851-1914 (Sydney, 1986), pp.93-7.
19. R.F Holder, Bank of New South Wales: A History (Sydney, 1970), p.363.
20. R.C.J. Stone, Makers of Fortune: A Colonial Business Community and its Fall (Auckland, 1973), p.23.
21. Archives of Business and Labour (hereafter ABL), Pitt, Son & Badgery (hereafter PSB), directors' minutes, 1907-10.
22. Ibid., 1900.
23. Hocken Archives (hereafter, HA), Stronach Morris (hereafter, SM), correspondence.
24. Fletcher Challenge Records Centre (hereafter, FCRC), Wright Stephenson (hereafter, WS), Special Report, 1906.
25. Turnbull Library (hereafter TL), New Zealand Loan & Mercantile Agency (hereafter NZLMA), directors' minutes, 1866-73. These individuals are discussed widely in Stone, Makers of Fortune. Goldsborough Mort also recruited managers from the banking sector. ABL, Barnard Collection, Box 5, file 2, 'Field Force', p.1.
26. Turnbull Library (hereafter TL), New Zealand Loan & Mercantile Agency (hereafter NZLMA), directors' minutes, 1866-73. These individuals are discussed widely in Stone, Makers of Fortune. Goldsborough Mort also recruited managers from the banking sector. ABL, Barnard Collection, Box 5, file 2, 'Field Force', p.1.
27. Confirmed in most leading sources including FCRC, WS, Special Report of 1906; TL, NZLMA, directors' minutes, comments of chairman in 1892.
28. J. Stiglitz and A. Weiss, 'Banks as Social Accountants and Screening Devices for the Allocation of Credit', Greek Economic Review, Vol.12 (1990), pp.89-96. A more formal presentation is provided by J. Stiglitz and A. Weiss, 'Credit Rationing in Markets with imperfect Information', American Economic Review, Vol.71, No.3 (1981).
29. J. Stiglitz and A. Weiss, 'Banks as Social Accountants and Screening Devices for the Allocation of Credit', Greek Economic Review, Vol.12 (1990), pp.89-96. A more formal presentation is provided by J. Stiglitz and A. Weiss, 'Credit Rationing in Markets with imperfect Information', American Economic Review, Vol.71, No.3 (1981).
30. For example on divorce, UMA, DL, in-correspondence from Abraham Cuffe, 1898.
31. FCRC, WS, Special Report of 1906.
32. Biographies of stock and station agents held in the Canterbury Museum indicate that many had a background in the local community which they served.
33. For example, the Otago Farmers' Cooperative Association of New Zealand Ltd which was established in 1895.
34. G. Stigler, 'The Economics of Information', Journal of Political Economy, Vol.69 (1961).
35. For an extensive number of historical examples of technology transfer see D.J. Jeremy (ed.), International Technology Transfer: Europe, Japan and the USA, 1700-1914 (Aldershot, 1991); idem (ed.), The Transfer of International Technology: Europe, Japan and the USA in the Twentieth Century (Aldershot, 1992).
36. For an extensive number of historical examples of technology transfer see D.J. Jeremy (ed.), International Technology Transfer: Europe, Japan and the USA, 1700-1914 (Aldershot, 1991); idem (ed.), The Transfer of International Technology: Europe, Japan and the USA in the Twentieth Century (Aldershot, 1992).
37. K. Arrow, Essays in the Theory of Risk-Bearing (Chicago, 1971), p.152.
38. O.E. Williamson, The Economic Institutions of Capitalism (New York, 1985), pp.293-4.
39. UMA, Hepburn and Leonard (hereafter, HL), out-correspondence to W. Lovegrave.
40. ABL, PSB, directors' minutes, 1918.
41. Ibid., 1895-98.
42. HA, SM, out-correspondence to R.E. Twopenny.
43. UMA, HL, internal correspondence, 1864.
44. ABL, PSB, directors' minutes, 1915.
45. J. Yates, Control Through Communication. The Rise of System in American Management (Maryland, 1989), Ch.2.
46. ABL, PSB, directors' minutes, 1912.
47. FCRC, WS, Special Report of 1906.
48. ABL, PSB, directors' minutes, ledgers.
49. FCRC, WS, 'Special Report', 1906.
50. All of these examples are taken from FCRC, WS, 'Special Report', 1906.
51. R.T. Appleyard and C.B. Schedvin (eds.), Australian Financiers: Biographical Essays (Melbourne, 1988), pp.91-3.
52. For example see the extensive lending details in the directors' minutes in TL, NZLMA.
53. ABL, PSB, directors' minutes, 1905.
54. UMA, DL, in-correspondence, 1897.
55. FCRC, WS, 'Special Report', 1906.
56. Ibid.
57. UMA, DL, in-correspondence from R.F. Darlot, 1895.
58. ABL, PSB, ledgers.
59. Stiglitz and Weiss, 'Banks as Social Accountants', p.100.
60. FCRC, WS, 'Special Report', 1906.
61. UMA, DL, out-correspondence, 1893-94.