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In 1859 he won his most important competition, that for the Wallace Monument in Stirling, which was completed in 1869. This went Â£5000 over budget which resulted in the bankruptcy of the contractor and Rochead never receiving his fee.
Also In 1871, Wallace, his sons and sons-in-law formed a new company. The new company, Wallace Brothers, produced silver-plated flatware on a base of stainless steel. (By 1879, Wallace Brothers was merged with R. Wallace and Sons Mfg.