The Shawforth Cotton Spinning, Manufacturing and Mining Company was incorporated in 1860. Inspired by co-operative ideals, amongst its first directors were a grocer, quarryman, power-loom jobber, carder and two publicans.

In 1885, it operated 20,000 spindles and 442 looms and in 1905 held 8,500 ring-twist spindles, 10,700 spinning mules and 56 doubling spindles together with 450 looms.

A new chimney was erected in 1869 and its collapsed flue can still be seen but there are few remains of the mill itself, which finally closed in 1934. Various other companies occupied the mill before a spectacular fire in 1956.

The chimney can be viewed from Market Street but also from Old Lane.  This is an interesting vantage point because, from here, there appears to be nothing but fields in front of the chimney, so what happened to the houses and Market Street!