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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001181431-06-005834.txt : 20060126
<SEC-HEADER>0001181431-06-005834.hdr.sgml : 20060126
<ACCEPTANCE-DATETIME>20060126170439
ACCESSION NUMBER:		0001181431-06-005834
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060124
FILED AS OF DATE:		20060126
DATE AS OF CHANGE:		20060126

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MELLON FINANCIAL CORP
		CENTRAL INDEX KEY:			0000064782
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				251233834
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE MELLON BANK CTR
		STREET 2:		500 GRANT ST
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15258-0001
		BUSINESS PHONE:		4122345000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MELLON BANK CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MELLON NATIONAL CORP
		DATE OF NAME CHANGE:	19841014

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ELLIOTT STEVEN G
		CENTRAL INDEX KEY:			0001180506

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07410
		FILM NUMBER:		06554264

	BUSINESS ADDRESS:	
		STREET 1:		DREYFUS CORP
		STREET 2:		200 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
		BUSINESS PHONE:		2129226000
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd105020.xml
<DESCRIPTION>FORM 4 - STEVEN G. ELLIOTT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-01-24</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000064782</issuerCik>
        <issuerName>MELLON FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>MEL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001180506</rptOwnerCik>
            <rptOwnerName>ELLIOTT STEVEN G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>MELLON FINANCIAL CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>ONE MELLON CENTER, 47TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>PITTSBURGH</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>15258</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Senior Vice Chairman</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-01-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>11327</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>36.09</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1003674.81</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9070</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>401(k) Plan</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Holdings reported as of 12/31/05.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Steven G. Elliott</signatureName>
        <signatureDate>2006-01-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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