The Stanly Cotton Oil Company was chartered in 1907 and the company was based in Norwood. The original stockholders were M.E. Blalock, W.C. Kendall, J.C. Dunlap and F.H. Lilly. By 1911 the mill had a capacity of 10 tons of seed a day. Most of its products were sold in the surrounding area. According to the special Rotogravure section of the April 8, 1932 Stanly News & Press, the company was manufacturing cottonseed oil and meal that was sent nationwide. In addition, to the primary facility in Norwood, it worked with several cotton gins in the immediate area along with several in surrounding counties. Unfortunately, the business ran into difficulties in the early 1930s. The last time it seems to have been in operation was in December 1934. In January 1937, the business was officially dissolved. {Lewis Bramlett – Stanly County Historical Society}