After the fair had been moved to Nizhny Novgorod, the monastery lost its main source of income and monks started leaving. Besides, in the early 19th century the Volga had shifted its course, absorbing the Yellow Lake. The monastery buildings were now threatened by the waters of the great river, with its annual spring floods. First, parts of the monastery walls fell due to erosion of the shore; in 1859, the main dome of the cathedral was shattered. Concerned with the monks' security, the Nizhny Novgorod Eparchy (Orthodox Diocese) and the local authorities decided to abolish the monastery. In 1869, the monastic community was dissolved; a sole hieromonk remained as a caretaker of the deserted compound. The diocese transferred the icons, bells, and other valuables to other churches. Only the Holy Icon of St. Macarius stayed in the monastery, due to the pleadings of the residents of the adjacent town of Makaryev (currently, the urban-type settlement of Makaryevo).