I don't know how much Mellon paid for the MEC or the B&M but I have a feeling he could not have afforded to purchase one of the "major" paper mills (Jay, Bucksport, Rumford). I don't think their value has ever been as low as the MEC or the B&M were when he bought them in the early '80's.
Strictly speculation on my part but it certainly makes me wonder especially since the paper mills have been consistently profitable for so long unlike the railroads.
Strictly speculation on my part but it certainly makes me wonder especially since the paper mills have been consistently profitable for so long unlike the railroads.
gokeefe