In 1820 the proprietors of the Dover Cotton Factory got possession of the Lower Falls, which had been in continuous possession of the Waldron family 180 years. The cornerstone of the new factory was laid July 4, 1821, with Masonic ceremonies. Col. Andrew Peirce delivered the address, being an able and eloquent speaker. That mill was at the south end of the dam, where it stood and was in use for nearly a century. Its cornerstone can be seen in the wall on the north side of the pond, just above the dam, marked “W. &W.,” meaning Williams and Wendall; John Williams and Isaac Wendall being the chief managers of the Factory company. Mr. Wendall was the founder of the Great Falls Cotton Factory.