Pease family

Sectors:

  • Extraction Chalk, limestone & sandstone extraction
  • Extraction Coal extraction
  • Financial services Commercial private banking services
  • Extraction Iron ore extraction
  • Basic metals production Iron, steel & related alloys production
  • Transport equipment production Railway locomotive, rolling stock & components production & repair
  • Transport services Railway transport services exc private & industrial railways
  • Textile production Woollen & worsted textiles production inc spinning & weaving

Notes:

Traced modern origins as Quaker businessmen to Edward Pease, 1767-1858, a woollen manufacturer and merchant at Darlington and leading promoter of the Stockton & Darlington Railway Co. His son, Joseph Pease, 1799-1872, with greater energy, diversified into coal, ironstone and limestone mining, founded the port of Middlesbrough in 1830s and also developed iron making and locomotive building interests, the latter through holding a substantial stake in Robert Stephenson & Co. His brother, Henry, 1807-81, was an important railway promoter. By 1870 employed c6,000. A banking business was established at Darlington in c1820 when known as Pease & Co, later J & J W Pease. Business in decline from 1870s, suffering a downturn in Robert Stephenson & Co; Henry Pease & Co, woollen manufacturers at Darlington;and Wilson Pease & Co, ironfounders at Middlesbrough. Under Sir Joseph Whitwell Pease, 1828-1903, mining interests were consolidated into a single partnership in 1892, incorporated as a public company in 1898 and known as Pease & Partners Ltd from 1892. A crisis in family affairs occurred in 1902 with the failure of the family's bank - which had supported the ailing industrial businesses to the extent of over £650,000, which was acquired by Barclay & Co. Pease & Partners Ltd renamed Pease Realisation Co Ltd in 1955 following nationalisation of many of its interests in 1940s

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