The Grahams and the second investment period
In 1899, Astley Campbell, William Smith’s heir, decided to sell the Quinta to the William Graham Júnior & Cia company, established in Lisbon since 1809. Major improvements were made, state-of-the-art machinery was imported and the facilities were renovated and expanded. By 1929, other improvements had been made and skilled workers brought in. The mill was entirely rebuilt with a view to producing even higher quality paper. Starting in 1935, these major improvements and investments in new machinery became visible in its industrial output and projection in the Portuguese industrial landscape. Later, Graham’s stake in the Mill shrank as new investors came in.