14. The Damon-Smith Partnership, 1864-1876

The process of rebuilding and reequipping the mill had been an arduous undertaking for Edward Damon. The fire and its fallout took a toll on his energy and he decided to take on a partner. His cousin, Henry F. Smith, had fifteen years of experience in flannel manufacturing at the Ballard Vale Company in Andover. Damon proposed a partnership, and Smith purchased a one-third interest in the Concord property. Their partnership began in 1864 and lasted through twelve of the mill's most prosperous years. 

Upon Henry Smith's arrival, a number of improvements were implemented. With the addition of new machinery, production at the mill more than doubled. In addition to domett and other fabrics, they began to produce Shaker and all-wool flannels. Increased production meant more employees, and several old buildings were converted into tenements to house them. The old saw and gristmills, now in disrepair, were replaced by a new multipurpose structure that contained both a machine shop and updated woodworking machinery. 

The partnership between the cousins was dissolved in December 1876, when Henry Smith went into the wool brokerage business. It was a dark, difficult time for both men, as they had maintained a close personal as well as business relationship for many years.