One of Walter's first decisions was to terminate manufacture of cement and lime, an occupation that had been carried on from the earliest days of the company. In December that year, the company purchased the Bishop's Waltham Brickworks of Blanchard & Co Ltd. The Blanchard episode is related in a separate section. During the 1920s, about 9,400 new houses were built in Southampton. To meet the resulting demand for building materials, Elliotts extended their Millbank premises and acquired an adjacent corn store. In 1924, the firm took a controlling interest in the Guernsey slate and cement dealers, Valpied Ltd. But their presence in Guernsey was not to last long. The wharf adjacent to the Millbank premises had been a useful asset to the company, particularly for the import coal, slates, sea-sand and timber and of coal and coke. Although the sale of coal was discontinued in 1923, the need for a wharf remained as great as ever. In 1925, after a proposal to enlarge it proved too costly, a small jetty was built to extend it. On the night of 14June 1927, a fire broke out in the Millbank timber sheds. The fire it did not extend to the other building but the firm's only lorry was destroyed. Losses for buildings, the lorry and stock amounted to over £10,000. Four new timber sheds were soon built and, during the next few years, several lorries were purchased to replace not only the burnt out one but also the horse-drawn carts that had previously been used. Frederick Elliott died on 26October 1928. At a subsequent meeting of the board it was decided that the chairmanship which, since 1918 had rotated amongst members, should in future be held permanently by Walter Elliott. At the same meeting Mason Elliott's brother, Christopher, was elected to the board. During the 1930s, by acting as agents to various companies, the company added to the range of products it supplied. New items included wood-fibre sheets, bitumen damp courses, steel scaffolding, and clay roofing tiles from France and Belgium. Items such as these contributed to annual sales figures that, during the years 1934–39, annual sales regularly exceeded £50,000. On 23May 1935, Walter Elliott died. His 51 years of service with the company had only been interrupted by his wartime service in the Territorial Army during which he had reached the rank of Major. At a board meeting during the following month his nephew, Mason Elliott, was elected managing director.