1439 The Bishop of Exeter gave permission for the construction of a stone quay in the manor of Towan Blystra in 1439. This was erected where the harbour is today and was known as the "new quay," which is where the town got its name. It was reported to be well made and suitable for trading vessels. The bishop's permission was sought by the mayor and aldermen of the town because the previous timber quay had been destroyed by storms. They wanted to know if it was safe to use the new stone quay instead. The new stone quay lasted until 1720 when it was damaged by fire. No one knows how or why the fire started, but it destroyed most of the town's records as well as much of the quay. It is assumed that the fire was caused by accident rather than design because there are no signs that it was deliberately set alight. After the fire, the town council decided to rebuild the quay and hired an architect who designed a new quay with fireproof materials like brick and stone. It is this new quay that stands today. The rebuilding took about three years and the new quay was opened by King George II in 1725. It is estimated that up to £10,000 (£1.5 million in today's money) was spent on the project.