Members of the Rice family operated the Rice Lumber Company, with offices at Cleveland, from the 1940s through the 1970s. Ed Rice of Cleveland in 1946 sold to F. A. Rice all the equipment of the Ed Rice Lumber Company of Cleveland. The mill was located eleven miles west of Conroe in Montgomery County. In the 1960s and 1970s, the mill employed more than twenty workers. Company logging equipment in 1947 included two GMC tandem trucks, a Chevrolet tandem truck, a pickup, three trailers, two tractors, six mules, three log tractors.
The Rice Lumber Company was listed in the Directory of the Forest Products Industry in 1975.