In 1823, businessmen from Salem, Mass., bought property along the Lamprey River, and Ebenezer Smith's sawmill disappeared, replaced by great blocks of granite rising stone by stone along the riverbank. Although the builders considered using brick to cut costs, they chose stone instead for its durability, and the No. 1 Mill of the Newmarket Mfg. Co. was completed at a cost of $11,197.94. Main Street was moved from the river's edge to its current location, and industrialization was underway. Newmarket was becoming a company town.