Josiah's son, William C. Sibley was elected President of the new company, and construction began around June 1, 1880 with Jones S. Davis as supervisor (HAER, 3). A fourth story was added during construction, which along with other changes raised the cost estimate from $730,313.08 to $788,452.82. William Sibley's daughter Pearl, who had laid the "corner brick" during a ceremony on 13 October 1880, also laid the last brick January 27, 1882. Water was let into the wheel pit during a grand opening celebration held on 22 February 1882 (HAER, 4). In April, 1882, capital stock was raised to $1,000,000 to cover the finished cost, including 30 tenements for mill workers (HAER, 7).