The railroad reached the village in the 1830s, which was a boon to both tourism and industry. Andrew Johnson consolidated ownership of the mountain at this time. New Gibraltar was incorporated in 1939 with Johnson as commissioner.
The name of the village was changed to Stone Mountain in 1845-1847. The mountain had become generally known as Stone Mountain and the village was commonly being referred to by the same name, so this name was made official.
Andrew Johnson died in 1852 and the majority of his Stone Mountain holdings were sold to William B. W. Dent the following year for $25,000.
The mountain was sold to Stone Mountain Granite Corporation for $45,400 in 1867.
Southern Granite Company bought the mountain in 1886 for $70,000. The Venable Brothers were among the personnel of this company.