Lucius W. Carroll was involved in several business partnerships in the manufacturing towns of Webster, Dudley, and Oxbridge in south-central Worcester county, Massachusetts. Among his partners noted in this ledger were J. Fenison Crosby (Carroll and Crosby), Elisha Wiswell, and John P. Stockwell (Stockwell and Carroll). However, it is difficult to learn much more of Carroll's business ventures or his background, as he does not appear in either the 1840 or the 1850 Massachusetts census indexes. During the years 1841 to 1844, he boarded with a Sarah Carroll (relationship unknown), and he rented his store space from John P. Stockwell (p. 113). Carroll's efforts certainly seemed rewarding. In 1842 and 1843, he paid himself a yearly salary of $500; in 1841, he also earned $913 as one-third of the profits of Stockwell and Carroll; and in 1844, he earned $461 from the partnership of Carroll and Crosby.

Carroll's business was of a fairly standard general store variety. He sold all sorts of goods including produce, meats, fish, cloth, garments, books, tea, and tobacco. Payment was most often in cash, but Carroll also accepted eggs, wood, potatoes, butter, furniture, and other items for exchange. Among his customers were many individuals and local companies reflecting the growth of manufacturing in the area spurred by Samuel Slater, including: George Slater, the Union Mills, the Dudley Woolen Manufacturing Company, and the Webster Woolen Mills. He also sold goods to the Baptist and Congregational societies.

There is an alphabetical index to the ledger in the front of the volume, and several pages of notes receivable and notes payable are at the end. Although the business entries cease with 1844, Carroll hired a number of men and women to work for him in some capacity beginning in 1844 and continuing until 1862 (many on a seasonal term). Pages 473 to 493 include the labor accounts by individual names.