The Indiana Historical Society states that the fall after the mill was destroyed by fire that the townspeople staged a "frolic" to build a new log mill. Searing then sold the mill for $2,000 to James Mullikin and Dr. Henry T. Ketchem. Ketchum soon sold his share back to Searing and in 1851 Mullikin acquired complete ownership of the mill. Mullikin then, sometime before January 1859, tore down the mill and built a new one as well as a general store. Stones were installed for grinding corn as well as stones for wheat. In January 1859 William Beal purchased the mill and surrounding land but sold it to William Blaize in December 1860 for $8,000. In 1862 Ralph Sprauge would acquire the mill.