From then to 1892, it would seem the flour milling industry in Caledonia was big business but not without competition across the river or financial difficulty.

[MillingCo 1] Doomed by fire and daunted by flood, McKinnon had his share of bad luck with mills.

His sawmill, many times damaged by ice and shifted off its location by the 1861 flood, lasted until it burned in January 1942.

The 1848 woollen mill burned and was rebuilt in 1863 but was left down after claimed arson took it in 1881, two years following McKinnon's death.

In 1873 William Munro joined McQuarrie and Thorburn to buy out McKinnon's flour milling business.

The Haldimand Atlas of 1877 also states they were turning out 1500 barrels weekly, paying out in cash a half million dollars annually, shipping mostly to Montreal where it was sold in the lower provinces of Canada and Europe.

They were anxious to secure the erection of some other manufacturing establishment to which they would furnish water power at a reasonable rate.

One wonders what part the 1876 rebuilding of the Northside mill played in the financial difficulty, and or just how true the hype really was in the 1877 Haldimand Atlas account.

An agreement of January 1880 stated that William and High Scott, and Robert Shirra each of the two parties would be responsible for an undivided half of the dam, water and maintenance.

He canvassed many of his farmer friends and customers for miles around Caledonia persuading them to invest in shares of a new milling firm.

The Caledonia Milling Company (Limited) received its charter February 16, 1892 with capital stock of $25,000, divided into 500 shares of $50 each.

When one half of the stock was subscribed and 20% paid, application was made for the incorporation of The Caledonia Milling Company (Limited).

[1] According to the prospectus for purchasing, the property which was located partly in the town of Caledonia and partly in the Township of Oneida consisted of a large modern and recently refitted and improved roller mill known as "The Balmoral Mills" with about three acres of land, ownership of one-half interest in the dam across the Grand River and of all rights connected, two Flour and Feed Stores together with the lands on which they stood and a large storage and shipping warehouse on the lands of the Grand Trunk Railway Company at their station in Caledonia.

Caledonia, at the time was said to be the centre of one of the wealthiest and finest wheat producing districts in Canada, the water power hard to equal and the railway shipping facilities all that could be desired.

At the time of incorporation it was run by water power rarely equalled in the province which would add to the profits of the business.

The Village Flour and Feed Store composed part of lot number one on the west side of Argyle Street corner of Caithness St.

However, the new Milling Company would own the entire building which contained the head office, and two other stores as well as the upper storeys which would be rented at remunerative prices.

Immediately, the mills and their adjoining properties were sold off to a company by the name of LH&J Enterprises, made up of three gentlemen.

[3] The Mill building was demolished by Riverside Properties in 2018 and work has commenced on the construction of an office complex.