Diversification: That was the key

key to shrewd RB's success

A tribute by R. W. ROBSON

The sudden—but not unexpected—death in Sydney, on October 3, of Randolph Bolton Carpenter has removed from the top group of Australian finance directors one of its shrewdest minds and most remarkable personalities.

TT also deprives the Carpenter A group of companies of a chairman who guided it, with great success, through a period of phenomenal growth.

“R. 8.”, as he was generally known, was a very modest and retiring man, and few people knew him intimately.

But all who did know him well admired his great ability as a director of his companies’ affairs, and held his qualities as a private citizen in high esteem. He was a tough man ager and director; but, privately, a very loveable and generous man.

My own friendship with him ex tended over 40 years, from the days when “old Walter” sat in his modest little office in O’Connell Street, watching every detail of development in his newly-founded corporation (W. R. Carpenter & Co. Ltd.) and grimly planning and covering his desk pad—the only thing ever on his tidy desk—with endless calculations.

Tireless promoter

Always beside that tireless pro moter were his two young sons, “Ranji” and “Wick”—R. B. Carpenter, born in 1900, and C. H. V. Carpenter, bom 1902. They were with him in every move that he made, as he built up the Carpenter concern from copra-buying and storekeeping in New Guinea until, within a couple of decades, it owned and operated plantations, a shipping line, an in surance company, a wholesaling organisation, copra mills, dockyards, and an air freighting company—and heaven knows what besides. There was no end to their enterprise and their thrust.

Three of Walter’s brothers entered the firm, and gave it weight and substance and a lot of genius; but old Walter remained the guiding force until he died; and, always, his right hand was “Ranji” and his left hand was “Wick”.

Quite naturally, when Sir Walter

Carpenter passed on, R.B. became chairman, and C.H. became vice chairman, in 1954; and since then the growth of the Carpenter organ isation has been even more remark able than in the previous 30 years.

“Diversification” seemed to be the main idea behind R.B.’s planning; with the result that Carpenter in terests now are found in very many of the soundest industries in Aus tralia, and in most of the territories of the South Pacific.

The modest corporation that Sir Walter established nearly 50 years ago now is valued by the stock ex changes at many millions, and the annual turn-over of all the companies in which Carpenters have an in terest reaches a fabulous amount.

Backed his judgments

“R. 8.” kept a remarkably well informed watch over every develop ment, economic and political, in the Pacific Islands; formed his stubborn judgments; and backed his judgments with Carpenter funds. He was rarely wrong.

There was a period when, it is believed, he had a couple of millions ready for investment in new industries in Fiji, but he awaited some assur ance from the British Colonial Office about future political developments there. The Colonial Office ignored him; and so the money went else where—much of it probably into that Carpenter tea enterprise in New Guinea.

The future now lies with Mr. C. H.

Carpenter, “R.B.’s” brother and very loyal partner during his lifetime; and perhaps with Mr, Randolph Carpenter (son of Mr. C. H. Carpenter, and “R.B.’s” nephew) who has been tak ing an increasingly important share in the direction of the big corpora tion in recent years. Mr. R. B.

Carpenter married Miss Gladys Harvey in 1925, and they had one daughter.