The second Prince Lumber Company sawmill at New Caney was first owned by C. H. Cobb, who sold it to Nadine Prince. She became Mrs. Jessie Johnson and conveyed the company to him in 1938. A year later, J. L. and J. R. Prince, possibly Mrs. Johnson's sons by her earlier marriage, sold the company to Pearson Grimes. A year later, the assets were owned by Seaborn and Lillian Ogletree, a local sawmilling family with another mill at New Caney. The Ogletrees sold the Prince Lumber Company to R. W. Peckham.
Apparently, Peckham had conveyed the mill to J. W. Tibbetts. The latter sold the site to T. W. Wallace and W. S. Crawford in July, 1947. The sale included assets of the sawmill, two dry kilns, 125 kiln trucks, a steam engine, twenty fans, sheds, two boilers, steam line, a water tower and water tank, a fuel hog, a blower, an exhaust fan, an American planer.