MELLEN, EDWARD J., JR. (31 Dec. 1909-6 Sept. 1982) was an investment banker who helped organize nearly 20 Cleveland companies and a philanthropist who co-founded the Mellen Foundation with his wife, Louise Shepler Mellen (d. 1977) and who provided a bequest which helped establish the Mellen Center for Multiple Sclerosis Treatment and Research.
Born in Lakewood to Edward and Jane (Scheel), Mellen attended Lakewood High School and Cleveland College, then joined the Cleveland Stock Exchange. Following WORLD WAR II Army service Mellen joined the investment securities firm H.L. Emerson Co. as vice president, then worked for Skall, Joseph & Miller, becoming executive vice-president.
In 1949 Mellen co-founded the investment securities firm of Joseph, Mellen & Miller, Inc., retiring as chairman in 1974. In 1954 Mellen formed Basic Ceramics Co. which became a leader in making precision ceramic cores for jet engines, rockets and missiles. Mellen was president and CEO when he sold Basic in 1974.
In 1957 Mellen purchased the failing Sherwood Drug Store, a downtown Cleveland landmark, and turned it into a successful chain of drugstores under H. J. Sherwood, Inc., a holding company, with Mellen as president and CEO.
In 1963 the MELLEN FOUNDATION was established to award the Louise Mellen Fellowship (Mrs. Mellen had MS) for nursing education and critical-care nursing. Mellen was president and chairman. In 1985 the CLEVELAND CLINIC FOUNDATION opened the Mellen Center with the help of his $2 million gift.
The Mellens were married on 10 Jan. 1942. They had no children. Mellen lived in LYNDHURST and is buried in Ft. Lauderdale, Florida.