The village of Carroll was founded in 1829 by William Tong. William's brother, Oliver Tong, helped lay out the village. The Tong brothers named the village after Charles Carroll, who was the last surviving signer of the Declaration of Independence. They also built the first mill. The Hocking Valley Canal met the Ohio & Erie Canal in Carroll.

In 1849, J. C. Reynolds built a flouring mill near this canal lock. It became known as the Carroll Flouring Mills. Aaron B. Kistier purchased the mill in 1872. The mill was able to produce 125 barrels a day. It was severly damaged by a fire in August, 1896. Kistier began rebuilding the mill soon after the blaze. Unfortunately, he passed away before it was completed. His 5 sons finished the mill and operated it until it burned down in 1899.