Founded in 1766 by the German ironmaster Peter Hasenclever. With financial backing from British investors, he purchased the existing Ringwood Ironworks as well as the 55,000-acre Long Pond Tract. The Long Pond River was dammed to provide water power for a large forge and to operate the air blast for a charcoal furnace. During the American Revolution these ironworks became important suppliers of armaments and goods to the Continental Army. Subsequently owned by the Rysersons (of Ryerson Steel) and then by American industrialists Peter Cooper and Abram S. Hewitt. During the Civil War, Cooper and Hewitt built two new furnaces, waterwheels and a casting house at Long Pond. Rendered uneconomic by Pennsylvania coal and Great Lakes ore, the last furnace fire was blown out on April 30, 1882. The site is now a part of a New Jersey State Park.