Between 1840 and 1870 woolen manufacturing emerged as a major Canadian industry. Mills were built in areas such as the Mississippi Valley, where waterpower, labour and wool supplies were abundant. James Rosamond built mills at Carleton Place and Almonte in the 1840s and 1850s. His sons, Bennett and William, began this much larger mill in 1866, in partnership with George Stephen of Montréal. For the next 40 years it was one of the largest, most progressive mills in Canada. The main building's nearly flat roof, stair tower and fenestration are characteristic of late 19th century textile mills in Canada.