The dam on the east side of N. Main St. dates from 1837 when Noah Graves built first a saw mill and then a paper mill in the area of what is now Riverside Park. Graves partnered with Charles Sears to begin the company and then leased his interest to Z. B. Brinsmade who joined with Sears. The company manufactured fine writing, wrapping, printing and tobacco paper. The mill changed hands frequently, finally closing in 1850.
In 1873 a group of investors formed the Chagrin Falls Paper Company at the site. The paper mill manufactured fine finish Manilla paper, wrapping paper, flour sacks, and many other products. Orders came from as far away as Australia. At its peak the company employed 50 men and had the capacity to produce 15,000 flour sacks a day. The company closed its doors in 1888.