Some 30 families purchased a plain granite shaft which they erected as a memorial to their war dead. Funds for the memorial were raised by Corporal A. Adams and Veterans of Arnold’s Cove. The site was chosen as it is visible from all parts of the cove and it was only a several feet away from the Church of England Church, their place of worship.
Shortly before the 7 August 1921, unveiling ceremony, Mr. T. Wakeley, accompanied by Isaac Wakeley and some 30 Veterans, arrived by motor boat from Harbour Buffett, Haystack, and nearby places. Mr. Wakeley unveiled the memorial and after the draped Union Jack fluttered down the memorial, the firing party fired three volleys.