Problem with changing material at runtime.

I'm pretty new at scripting so this is likely a novice question. I'm working on a project that loads a series of obj's at runtime one after another creating an animation from them. The animation is working so far but its not showing the material or texture when I play the game.

 function waitFor()
 {
     if(boxCount == boxes.Length)
     {
         boxCount = 0;
     }
     var newBox : GameObject = Instantiate(boxes[boxCount], Vector3(0,0,0), Quaternion.identity);
     var newTexture : Texture = boxTextures[boxCount];
     newBox.AddComponent("MeshRenderer");
     newBox.renderer.material = peopleMat;
     newBox.renderer.material.mainTexture = newTexture;
     print(newBox.renderer.material.mainTexture); //This is printing out the right texture but its not showing on the object.
     boxCount++;
     yield WaitForSeconds(0.042);
     Destroy(newBox);
 }