Noun
A pond or reservoir produced by damming a river or stream in order to provide a steady source of water for a millrace.
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More examples (1)
When I came to the saw-mill at Brække, the sky was overcast, it was already growing dark, only above the level of the north-western horizon there appeared a streak of light, which threw a subdued glimmer on the tranquil surface of the mill-pond.
Noun
a pond formed by damming a stream to provide a head of water to turn a mill wheel