In 1877 the Oregon Iron Company was sold to its creditors, Samuel H. Brown, Jr. and Ernest W. Crichton.
 These men were experienced iron masters from Ohio's Hanging Rock Iron Region.
 They had been employees of the Oregon Iron Company, hired when the company sought knowledgeable iron masters to run the furnace.
 They incorporated the Oswego Iron Company in 1878 and made many improvements.
 Sadly, they too fell into debt and sold the company to their creditors, Simeon Gannett Reed, and Henry Villard.

Reed borrowed heavily from Villard to build a modern blast furnace, which opened in 1888 half a mile north of the old furnace.
 The new plant included the first pipe foundry west of St. Louis.
 The company looked poised to expand, however the economic crisis of 1893 dealt a fatal blow to the company, which had already been damaged by disputes among stockholders, competition from imported pig iron, and high labor costs.
 The furnace closed in 1894 and never reopened.
In 1877 the Oregon Iron Company was sold to its creditors, Samuel H. Brown, Jr. and Ernest W. Crichton.  These men were experienced iron masters from Ohio's Hanging Rock Iron Region.  They had been employees of the Oregon Iron Company, hired when the company sought knowledgeable iron masters to run the furnace.  They incorporated the Oswego Iron Company in 1878 and made many improvements.  Sadly, they too fell into debt and sold the company to their creditors, Simeon Gannett Reed, and Henry Villard.
Reed borrowed heavily from Villard to build a modern blast furnace, which opened in 1888 half a mile north of the old furnace.  The new plant included the first pipe foundry west of St. Louis.  The company looked poised to expand, however the economic crisis of 1893 dealt a fatal blow to the company, which had already been damaged by disputes among stockholders, competition from imported pig iron, and high labor costs.  The furnace closed in 1894 and never reopened.
George Rogers Park