Joseph Read first began quarrying grindstones in 1810 when he leased a section of shoreline at Minudie, Cumberland County, Nova Scotia from Amos Seaman, who was also in the business. Joseph Read's son, Joseph, Jr., expanded the business, opening a stoneyard for grading, distributing, and selling grindstones at Boston in 1824. Joseph Read, Sr. entered into partnership with John T. Seaman, and the company expanded its operations to Rockport, Dover, and Beaumont. The Reads' record the founding of their company as 1824, possibly the year that the partnership of Read and Seaman was formed. Minudie remained the company's base of operation throughout the 19th century.

In 1856 the enterprise expanded when another stone quarry was opened at Stonehaven, Gloucester County, New Brunswick. By 1900, the company had moved its base of operations to Sackville, N. B. and was now producing building stone and pulp stone along with grindstones. In 1908 the business was incorporated under the name Read Stone Co. Ltd., at which time the quarries and businesses of Joseph Read, of Stonehaven, and Henry C. Read, of Sackville, were consolidated. The company's business interests extended from New Brunswick to Montréal, West Virginia, and Ohio. H. W. Read closed the quarries at Stonehaven in 1930. Read Stone Co. Ltd. surrendered its letters patent on 10 February 1954.