In 1904, although the fire department tried to save the mill, it was destroyed by fire. It was rebuilt with a new Planing Mill and Dry Kilns and could then handle 150,000 feet of lumber in 10 hours. The buildings but not the machinery were insured. The owners decided to rebuild immediately so that workers could return to their jobs.

"[T]he town of Port Moody will not suffer by a catastrophe which overtook the only industry last week, and by which the large mill owned by the Canadian Pacific Lumber Company was totally destroyed by fire, as that Company has decided to rebuild at once." The Province, July 11, 1904, p.9