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) the result being a dead heat. Subsequently the "Ellan Vannin" sailed down the channel as far as the Bell Buoy and back, during the course of which her speed was gauged by Captain Ponsonby on board the "Mobile". A two knot tide was running against her, however the "Ellan Vannin" covered the distance from the Northwest Lightship to the Rock Lighthouse in 1 hour 12 minutes. Luncheon was then served, the directors being joined by John Laird who had been on deck observing the trial. The "Ellan Vannin" made her maiden voyage from Liverpool to Castletown on Tuesday 1 August,