BUSINESS ROMANCE.

Taranaki Daily News, 5 October 1929, Page 9

BUSINESS ROMANCE.

TWINS STARTED WITH £lOO. DIAMOND JUBILEE OF FIRM. In October, 1869, twin brothers commenced busines in Wanganui as painters and decorators, depositing £lOO, , which comprised their worldly wealth, in the Bank of New Zealand. The twins were Richard and Edward Tingey, and there they laid the foundation of the big busmess concern which exists 'to-day, with important branches in Manners Street, Wellington, Auckland, New Plymouth, and Christchurch. They were born in London and came out with their parents and other members of the family about 1864. They .took up farming in North Auckland, and the original homested still goes by the appellation of Tingey’s Farm. Then the Maori war broke out and Mr. Richard Tingey wended his way to Wanganui to join up with the volunteers and took part in numerous engagements. In 1869 he commenced business and was shortly afterwards joined by his brother. The firm posseses to-day the bank, deposit book in which the original deposit was made. Not a penny has been borrowed outside of the family for business developments. The ■ concern flourished, and the Wellington branch was opened up 40 years ago on the site of the present building', in Manners Street, which was erected 15 years ago. Then followed the establishment of the Christchurch branch seven, years ago, and later those at Auckland and New Plymouth. , The firm has just let a contract for tne erection of a three-story building in ferro concrete at New Plymouth, to which their activities will be transferred. Mr. Edward Tingey, it will be recalled, met with a fatal motor accident m 1916 at Wanganui, and Mr. Richard Tingey maintained his active interest in the business until his death in 1927. The wives of both were Wanganui, residents, and fifteen children were born to each of them. ,Al though the firm is a public edmpany, it is privately owned, the whole of the interest being held by nine members of the two families —five sons of Mr. Richard Tingey, Messrs. R. L., R. 8., W. H„ S S. and’L H. Tingey; and four sons of Mr. Edward Tingey, Messrs. P. E., E. V., N. E., and J. S. Tingey, all of whom are engaged in an executive capacity. Mr. P. E. Tingey is managing director, and the other directors are Messrs. R. 8., J. S., S. Sy, and L. H. Tingey.*