than $1,500,000. The company borrowed a large sum of money in order to be able to resume production but they didn't have enough working capital to repair and modernize their facilities. In 1957, James Arthur Atwood III, grandson of James S. Atwood, and the rest of the company directors decided to cease all operations resulting in the company's final closing. James Arthur Atwood III was responsible for disposing of the company's assets to pay off their creditors. Land, the water company, and other properties were sold, and the mill rented to various tenants over the next decade. American Standard was one of the early buyers and built a manufacturing facility in Wauregan soon after the Wauregan company closed. All the debts of Wauregan Mill were eventually paid off in 1970. Since 1974, C&M Corporation, a vertically integrated manufacturer of electrical cable, has owned and occupied the former Wauregan Mills complex, where it operates a production facility and maintains its corporate headquarters. The village is described as looking "much as it did in the 1850s." The Wauregan Historic District was listed on the National Register of Historic Places in 1979. Geography The village is centered on the former site of the mill on the east bank of the Quinebaug River, near where modern Route 205 crosses the river. The village extends eastward from the river up a gently rising slope towards Route 12 located at the crest of a ridge. The mill workers' houses are located along Walnut and Chestnut streets just east of the mill site, while the supervisor's houses and the company store are located further east (and further up in elevation). The mill owners' houses and the church are even further up and east. The historic district covers an area of about , roughly bounded on the east by Grove Street, Fountain Street, Route 12, Route 205, and South Chestnut Street; on the south by Third Street; on the west by South Walnut Street, a westward extension of First Street, and the Quinebaug River; and on the north by the extension of the east-west portion of North Chestnut Street. The boundaries of the historic district exclude a large tract of open land to the north that the Wauregan company once owned. The district includes 114 buildings and structures. According to the United States Census Bureau, the Wauregan CDP has a total area of , of which , or