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Elders Limited
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Elders Limited
Elders Limited, formerly known as Elder, Stirling & Co., Elder Smith and Co. and Elder Smith & Co. Ltd, is an Australian agribusiness that provides agricultural goods and services to primary producers in Australia.
With the fledgling colony of South Australia only three years old, Alexander Lang Elder arrived in Port Misery (now Port Adelaide) in January 1839 aboard the family-owned schooner Minerva as the only cabin passenger, under Captain David Reid. He went there to set up business and explore opportunities for his family's Scottish-based merchant and shipping business. Alexander's brothers, William, George, and Thomas joined Alexander. Out of the four of them, only Thomas stayed in Australia. Thomas moved to Adelaide in 1854 and worked with George for a year.[citation needed]
After George left, Thomas formed Elder, Stirling & Co with Edward Stirling, Robert Barr Smith, and John Taylor. On Stirling and Taylor's retirement in 1863, Barr Smith and Thomas Elder formed Elder Smith and Co.[citation needed]
In 1888, Elder Smith and Co. was amalgamated with its subsidiary Elder's Wool & Produce Co. Ltd, and Peter Waite became the chairman of directors of the new company, which was called Elder Smith & Co. Ltd. Elders profits more than doubled from 1918 to 1928, with Peter Waite as chairman until his death in 1922, followed by Tom Elder Barr Smith, son of Robert.
At some period during the 19th century, the company employed bounty hunters to prevent the theft of sheep by Aboriginal people; Elders paid the hunters for each pair of ears they handed in. Crimes like these were deliberately expunged from Elder’s records by specifically hired staff in the late 20th century.
In 1929 Walter Bagot, of Woods, Bagot, Jory & Laybourne Smith designed the Elders Currie Street offices.
The Elders centenary in 1939 coincided with the start of World War II when the highly competitive wool-selling business was put into government control. As the war continued, the wool auction system remained closed and the British government acquired the total Australian wool clip. In 1941, the British government paid Elders the equivalent of $3 billion today, and nearly $4 billion the following year. The return to the open auction system in 1946 saw the start of a dramatic five-year run for wool. National wool revenues increased by 29% and 64% respectively in the first two full years of peace.[citation needed]
In the early 1950s, Norman Giles moved from the Elders WA branch of the company to the Adelaide branch, and two years later became managing director. In 1962 Giles announced the merger of Elder Smith and Goldsbrough Mort with its new corporate headquarters located in Adelaide. In 1970, Giles expanded Elders into Gove Alumina and Robe River mining ventures and launched Elders Finance and Investment Co. Sir Norman Giles retired in 1975 after 54 years with Elders.[citation needed]
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Elders Limited
Elders Limited, formerly known as Elder, Stirling & Co., Elder Smith and Co. and Elder Smith & Co. Ltd, is an Australian agribusiness that provides agricultural goods and services to primary producers in Australia.
With the fledgling colony of South Australia only three years old, Alexander Lang Elder arrived in Port Misery (now Port Adelaide) in January 1839 aboard the family-owned schooner Minerva as the only cabin passenger, under Captain David Reid. He went there to set up business and explore opportunities for his family's Scottish-based merchant and shipping business. Alexander's brothers, William, George, and Thomas joined Alexander. Out of the four of them, only Thomas stayed in Australia. Thomas moved to Adelaide in 1854 and worked with George for a year.[citation needed]
After George left, Thomas formed Elder, Stirling & Co with Edward Stirling, Robert Barr Smith, and John Taylor. On Stirling and Taylor's retirement in 1863, Barr Smith and Thomas Elder formed Elder Smith and Co.[citation needed]
In 1888, Elder Smith and Co. was amalgamated with its subsidiary Elder's Wool & Produce Co. Ltd, and Peter Waite became the chairman of directors of the new company, which was called Elder Smith & Co. Ltd. Elders profits more than doubled from 1918 to 1928, with Peter Waite as chairman until his death in 1922, followed by Tom Elder Barr Smith, son of Robert.
At some period during the 19th century, the company employed bounty hunters to prevent the theft of sheep by Aboriginal people; Elders paid the hunters for each pair of ears they handed in. Crimes like these were deliberately expunged from Elder’s records by specifically hired staff in the late 20th century.
In 1929 Walter Bagot, of Woods, Bagot, Jory & Laybourne Smith designed the Elders Currie Street offices.
The Elders centenary in 1939 coincided with the start of World War II when the highly competitive wool-selling business was put into government control. As the war continued, the wool auction system remained closed and the British government acquired the total Australian wool clip. In 1941, the British government paid Elders the equivalent of $3 billion today, and nearly $4 billion the following year. The return to the open auction system in 1946 saw the start of a dramatic five-year run for wool. National wool revenues increased by 29% and 64% respectively in the first two full years of peace.[citation needed]
In the early 1950s, Norman Giles moved from the Elders WA branch of the company to the Adelaide branch, and two years later became managing director. In 1962 Giles announced the merger of Elder Smith and Goldsbrough Mort with its new corporate headquarters located in Adelaide. In 1970, Giles expanded Elders into Gove Alumina and Robe River mining ventures and launched Elders Finance and Investment Co. Sir Norman Giles retired in 1975 after 54 years with Elders.[citation needed]
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