Laxey agreement that it should be kept in perpetual running order for the people of the Isle of Man. In 1965 the Isle of Man Government bought the wheel and the site. Restoration work began, and in 1989 it was put under the control of Manx National Heritage. Great Laxey Mine Railway re-opened with two small steam engines in September 2004 to carry passengers along the restored route. Laxey is the site of King Orry's Grave. The Laxey Woollen Mills were founded in 1881 by Egbert Rydings, supported by John Ruskin, and were originally water powered. The mills are known for
SS Ellan Vannin (1854) management of the "Ellan Vannin" and for his part in the establishment of the company. However, by the end of 1856 the Castletown Steam Navigation Company were starting to make a loss. At their third Annual General Meeting held at the town hall, Castletown on Wednesday 17 December 1856, it was disclosed that for the previous two months the company had sustained a weekly loss of £12 (equivalent to £ in ) resulting in a total loss of £100 (equivalent to £ in ). One of the directors reported that they had received several offers from a company in Dublin