Paterson, Reid and Bruce Limited deposit
- 1861 - 1975 (Creation)
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The company was formed by a merger of Paterson, Laing and Bruce Limited and Robert Reid and Company Limited. It operated as a direct subsidiary of Ralli Australia Proprietry Limited from 1966 to July 1970 when it was purchased by Grimley Limited. The parent company changed name to Eastralian Securities Limited in September 1970 and then to ESCOR Limited in January 1974. Paterson, Reid and Bruce Limited ceased trading in December 1979. An ongoing division of the company continued trading as ESCOR Textiles Limited, a subsidiary of ESCOR Limited.
Name of creator
In 1876 John Paterson bought out partners Henry C Palmer and Briscoe Ray in the company Paterson, Ray, Palmer and Company and with James Robert Laing (previously with Laing and Webster) as partner, formed Paterson, Laing and Company. A London office was established in 1878 in Australian Avenue, St Giles without Cripplegate. In 1879, John Monro Bruce (resident partner of George Webster and Company) became a partner with the firm assuming the name Paterson, Laing and Bruce. In 1893 the partnership included Paterson, John Robert Laing (son of James), JM Bruce, George Williamson Bruce, John Glaister Paterson, and Thomas James Amour Clark. In 1897, JM Bruce acquired the other interests and converted the business to a limited liability company, Paterson, Laing and Bruce Limited. The company was registered in London in January 1898 with two branch houses in Melbourne and London. In 1899 the businesses Lark, Sons and Company Limited (Sydney) and R Lewis and Sons (Hobart) were acquired and a Sydney office established. In July 1901 the newly formed company Paterson, Laing and Bruce (1901) Limited took over the old company, registered in England, but in November 1903 the name reverted to Paterson, Laing and Bruce Limited. In February 1966, the company merged with Robert Reid and Company Limited to form Paterson, Reid and Bruce Limited, a direct subsidiary of Ralli Australia Proprietry Limited.
Name of creator
In 1898 an English liability company Robert Reid and Company Limited was formed with Hon. Robert Reid as Chairman (till his death in 1904) and co-Director James Wright both based in Melbourne. Robert Mackenzie Reid, Robert's son, an original director, succeeded him as Chairman and remained in London, with James Wright becoming Managing Director in Australia. In 1909, William Edward Bates, a Melbourne solicitor joined the Board, and it appears that he and Robert Reid were primarily responsible for the formation of the new Australian company, registered in Melbourne in March 1919. The company had warehouses in Melbourne, Sydney, Adelaide and Brisbane. The Adelaide house closed in 1928 with Melbourne then responsible for South Australian trade, along with Perth and Tasmania. In 1940 the Brisbane house became a branch of the Sydney house. In 1936 the business of Joseph Pickles and Son (Sydney) was acquired. Restrictions on wholesale importing during World War II forced the company to expand its retail trade, through Hustlers Proprietry Limited. Chairman Robert Mackenzie Reid died in 1942. His son, Robert Wolstenholme Reid, a member of the Board since 1927, became Chairman in 1953. In 1957 the company was merged with David Murray Holdings Limited to form Reid Murray Holdings Limited, with Robert Reid as Chairman. In 1963 it went into liquidation and in 1966 Robert Reid and Company Limited, 'a trading subsidiary' of Reid Murray Holdings Limited was bought by Ralli Brothers and merged with their old established rivals, Paterson, Laing and Bruce Limited to form Paterson, Reid and Bruce Limited.
Name of creator
In 1860, John Paterson and Henry C Palmer, both partners of JC Young and Company, purchased the business on JC Young's retirement, and renamed it Paterson, Palmer and Company. The business of Ray, Glaister and Company was then purchased and Briscoe Ray became a partner shortly afterwards and the business was then known as Paterson, Ray, Palmer and Company. In 1876 Paterson bought out the other interests and with James Robert Laing (previously with Laing and Webster) as partner, the firm became Paterson, Laing and Company.
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Correspondence, financial, stock and staff records of Sydney and Brisbane branches of Robert Reid and Company Limited, financial records of Paterson, Ray, Palmer and Company, trade mark registrations, stock and sales books, staff records, catalogues, house journal and memorabilia of Melbourne branch of Paterson, Laing and Bruce Limited, staff records and sales tax reports of Paterson, Reid and Bruce Limited. Some photographs of senior staff and buildings of Robert Reid and Company Limited and Paterson, Laing and Bruce Limited.
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Entered by Maggie Shapley, 11 February 2010