The American Writing Paper Company in Holyoke, Massachusetts incorporated and began operations in 1899. Sixteen of its mills were in Holyoke, comprising over half of the mills owned and operated by the newly-formed trust. At the time of its incorporation, the trust controlled 75% of the total United States fine paper output. During its history, the American Writing Paper Company twice declared bankruptcy, experienced labor strikes, and reorganized. In 1962, it was re-named the Holyoke Shares Incorporated and, in 1970, was completely liquidated.

Mills began appearing along the banks of the Connecticut River after the Holyoke dam and canal system implementation in 1848. The first paper mill was established in Holyoke in 1853. In 1873, 15 paper mills operated with capacity of 48.5 tons per day and by 1897, 26 mills operated with increased capacity of 320 tons per day. Holyoke became known as the "Paper City of the World." The paper making industry flourished in Holyoke due to several factors, including a steady and plentiful water supply for powering the mills, access to water that did not require chemical treatment to be used in the manufacturing process, and the presence of textile mills nearby providing regular supplies of rags necessary for the manufacture of rag content papers.