The business had its roots in the old Victorian stock and station agents firm of Dal Campbell and Company. From 1884 it went under various managements including Alexander Pearson and H E Rowe, who carried on the business after the death of Pearson. The name of the firm then changed to Pearson, Rowe and Company. When Alexander Smith became a partner the firm's name changed to Pearson, Rowe, Smith and Company. At a later stage Wilson Cameron was admitted to the partnership. After the death of Smith, the firm became a proprietary company in 1914, chiefly from members of the staff of the firm, including C S Wood (Managing Director), P F Rowe (son of H E Rowe), H Boyd (Secretary), J A Burrell (accountant), R A Bear and R McKee. On 18 December 1937 the company was acquired by Goldsbrough, Mort and Co Ltd.