Lincolnshire Police are continuing their investigation the incidentwhich happened in Parsons Lane, Alford, around 7.30pm on Sunday night
Yesterday (Monday) police confirmed a 16-year-old youth was taken to hospital with a serious injury, not believed to be life threatening.
They said a 14-year-old boy had been arrested and remained in custody for questioning.
Members of the community expressed their shock after the first report of 'a serious' incident was posted on social media around 9pm on Sunday night. Alford & Mablethorpe Police alerted the public on Facebook that the junction between Hamilton Road and Holywell Road was expected to be closed for some time.
More than 100 residents sent good wishes to the family and expressed their shock after it was explained the incident to which the police referred was the alleged 'stabbing' of a boy.
They also spoke of seeing the air ambulance land in the area.
Among the comments Jasmine Lian said: "So sad. I hope the boy is OK. This kinda thing shouldn't happen especially at that age!"
Luke Kendall commented: "Such a shame - what is Alford coming to?"
And Susan Lunt said: "Hope all involved are OK. No parent wants that knock on the door."
This morning, Mandy Smith posted to the Storehouse Church called the community to prayer. She said: " I have waited to post this until the message got out as I didn’t want to hinder police enquiries.
"However, most people now know a 15-year-old was stabbed last night. He is a young man known to our youth club.
"Please could we have prayer again for our children in Alford.
"Church we need to pray Psalm 91 over this town and we need to come together not in gossip and hearsay but in the full knowledge that God can overcome and we can be used to influence this town in ways of love and unity."
Debbie Yarlett commented: "Praying for a speedy recovery for the boy and for his family, and for the community and all his friends."
Although neither of the youths were students at the local John Spendluffe Technology College, it is understood some other young people were in the vicinity when the incident happened.
Headteacher Ms Joyce Shorrock commented: "We are aware there was a serious incident in Alford on Sunday resulting in injuries being sustained by a teenager. The injuries are a result of the actions of another teenager.
"Neither person involved above are students at JSTC.
"The incident was witnessed by other local young people and the school will be working with both police and other services to support if necessary.
"The carrying of knives in our society is worrying and we have clearly set out our standard with respect to this - contacting parents and stating clearly that the carrying of any weapon is both illegal and will not be tolerated in school. Any student carrying a knife in school would be permanently excluded. This information has been sent to all parents."
Police are appealing for witnesses to this incident and anyone with information should call 101, quoting incident 371 of 1 March.