Thanks in large part to entrepreneur Joseph Veazic of Boston who elicited the help from wealthy and influential East Coast families to invest in the lands in and around Shawmut, nearly ten square miles of coal lands were purchased from Daniel Kingsbury. As explorations commenced, coal was found in all quarters of the purchase. High hills rose above the seams, affording good cover and hollows opened out in all directions, permitting drifts to be opened to mine coal at the best advantage. Everything was so encouraging that the town was platted in 1861.