According to a press despatch from Watertown, N.Y. as the Pulp and
Paper Magazine was going to press the following story regarding the
attempted purchase of the Donnacona Paper Company appeared:--
The Donnacona Paper Company, with mills located at Donnacona, Quebec,
thirty miles from Quebec City in the St. Lawrence river, is the prize
now sought by the French syndicate of Parisian newspaper publishers who
failed some time ago to secure control of the Remington Paper and Power
Company’s group of mills near here.
The French interests were unable to get permission from the Government
boards of France to send money from that country to the United States
in time to close the deal before their option expired.
The Donnacona mills is a new mill, having been in operation but a year.
It has an output of one hundred tons of paper a day. A feature that
appeals to the fact that pulpwood can be bought much cheaper in Canada
than on this side.
G. H. P. Gould, paper mill magnate and owner of the St. Regis and Gould
Paper Companies, is president of the Donnacona company, with Walter N.
Kernan, of New York, vice-president.