Banning was a boom-town. In 1896, Martin Ring platted a village along the St. Paul and Duluth Railroad. To honor the industry, Ring named the village and streets after railroad officials. At its peak, Banning had a population of about 300, and was home to several businesses. Modern construction of steel and concrete soon replaced stone, and by 1905 quarry operations had ceased. Banning's population dwindled until its final abandonment around 1918. Railways were essential to the quarrying industry. Steam locomotive was the only efficient way of transporting stone to far-off cities. Every day, an engine would pick up loads of building stones, slabs, paving blocks, and crushed rock.