[3][4][5] The current furnace is the only structure that remains of the original iron company, [6] and is the oldest industrial landmark in the state of Oregon.

Due to the long and difficult journey, these imported iron products from the East were sold up for up to ten times what they originally cost.

[9] With Olds' profits, a group of investors from Portland saw the economic opportunity that was now available in forming an iron company based in Oregon.

Water rights were important to hold within the industry, as it would provide the steam power necessary to fuel the engines of the furnaces[6] and work the iron.

[9] Henry, along with his brother John and H.C. Leonard, were influential investors as they also owned the Portland Water Company at the time.

[6] George D. Wilbur from Connecticut supervised the construction of the furnaces which began in 1866, including the one that remains standing today.