Its first ship, a 65 ft (20 m) paddle steamer called Victoria, was launched on the River Tyne that summer.
She was commissioned to carry passengers, carts and livestock between Portsmouth and the Isle of Wight, and is thought to have cost around £700.
In 1903, Wigham Richardson merged with Swan and Hunter specifically to bid for the prestigious contract to build the RMS Mauretania.
Their bid was successful, and she went on to capture the Blue Riband for the fastest crossing of the Atlantic - a record she held for two decades.
Ships built by Wigham Richardson's Neptune Yard, prior to the merger with Swan Hunter included: