In 1857 James Rosamond built this mill on the Mississippi River, thereby firmly establishing the woollen industry in Almonte. An Irish-born entrepreneur, Rosamond was previously a resident of nearby Carleton Place where, in 1846, he had built one of the first woollen factories in this part of Upper Canada (Ontario). In 1866 his sons, Bennett and William, then in control, expanded the firm by constructing another larger mill in Almonte, and in 1882 Bennett also founded the Almonte Knitting Company. The Rosamonds' alliance with Montréal financial interests contributed significantly to their success. By 1890 the Rosamond woollen concerns, at the height of their influence, employed over 500 People in Almonte, then reputedly the seat of the woollen trade in Canada.