Established in 1896, The Spokane Casket Company was one of the largest and longest surviving of Peaceful Valley businesses. Stephen Smith founded the company (originally on Post Street and called Spokane Coffin Factory) along with the Smith Funeral Home, and the two became synonymous with the business of death in Spokane. Peaceful Valley, secluded and seldom visited in those days, was an ideal location for the company. Although it was a behind the scenes player, the casket company, which employed thirty people less than two decades after its founding, was not only "inseparably linked... with the prosperity of Spokane," but was socially and economically important in the larger context of eastern Washington.
The boom lasted through the 1960s, but the Spokane Casket Company's business declined after that, and it finally closed its doors in 1999. In early 2001, after over a century of continuous operation that made it a fixture in Peaceful Valley, the remaining structures of the Spokane Casket Company were demolished.