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Raymond came in to existence when the last significant Mormon migration to Alberta occurred in 1901. This was not a migration formally instigated by the Church of Jesus Christ of Latter Day Saints, as had been the case with Cardston.

Rather, this was a spontaneous migration largely motivated by the economic opportunities being created in Southern Alberta by Jesse Knight, a wealthy miner and industrialist from Utah who planned to build a sugar factory and a town. Settlers thus would have triple opportunity for making a livelihood in Raymond. There were jobs related to the sugar factory, business opportunities in town, and farming and ranching could be carried on in surrounding areas where land was relatively inexpensive.

The settlement of Raymond had scarcely celebrated its first birthday when the Raymond Milling and Elevator Company began operation. The first delivery of wheat was accepted at the long, low warehouse-type elevator on October 3, 1902 and the mill began grinding Turkey Red wheat into flour on January 21, 1903. It was bagged under the brand name of "Our Best" flour.

Raymond Pioneers: Letter to a Wife