American Iron Company records
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Abstract
The collection contains documents pertaining to the establishment and dissolution of American Iron Company in New York and New Jersey, including deeds for the purchase and sale of land, articles of agreement, bills from vendors, letters demanding payment of overdue accounts, paid checks, minutes of Trustees' meetings, and the company's ledger and checkbook.
Historical Note
The American Iron Company, established in London in 1767, was the reorganization of an iron-manufacturing venture (1764-1767) whose original backers went bankrupt. The trustees for the new enterprise were originally Major General David Greeme; George Jackson, Deputy of Admiralty; Commodore Arthur Forrest; Richard Willis; and Richard Atkinson. Peter Hasenclever was named the agent for the Company and managed the Company's Ringwood (purchased by American Iron Company in 1764), Long Pond (founded by Hasenclever in 1766), and Charlotteburgh iron manufacturing companies in New Jersey and New York, in which he had interests. He served as agent from June to October, 1767. Financial problems related to the bankruptcy of his former partners Andrew Seton and Charles Crofts resulted in his return to London in 1768.
The Company's iron works were subsequently managed by Seton Humfray, Thomas Jordan, John Jacob Faesch (beginning in 1769), and Robert Erskine (d. 1780). The bankruptcy of Peter Hasenclever in 1769 weakened the Company because of his close financial relationship with it. Hasenclever's creditors therefore sought to put an attachment on the Company for their claims.
Hasenclever returned to Silesia (Germany) in 1773. The Revolution halted all legal action underway and from 1773 to 1788, the claims made against the Company were ignored. However, the iron works continued to supply material for the Revolutionary forces during this period. In 1788 Chief Justice Richard Morris of New York appointed three trustees for the Company: Peter Goelet, a New York merchant; Robert Morris, a New Jersey judge; and William Popham, a New York attorney. Their responsibility was to ensure that all of the Company's outstanding debts were settled, and in pursuance of this they conducted a sale of all Company lands in 1795. By 1806, all of the Company's accounts had been settled.
Arrangement
This collection is organized in four series:
Series I. Correspondence 1764-1806, undated
Series II. Legal documents, 1751, 1765-1806, undated
Series III. Corporate documents, 1788-1800, undated
Series IV. Financial documents, 1766-1802, 1806, undated
Scope and Contents
The collection contains predominantly copies of legal documents pertaining to the establishment and dissolution of American Iron Company in New York and New Jersey, including deeds for the purchase and sale of land, articles of agreement, bills from vendors, letters demanding payment of overdue accounts, paid checks, minutes of Trustees' meetings, and the company's ledger and checkbook. A bill dated 1744 possesses no apparent relation to the bulk of the records. A document of 1751 is relevant but is chronologically isolated from the bulk of the records (1764-1806).
The records richly illustrate standard legal processes in England and the Colonies immediately before and after the Revolution. Documents relevant to the land sale of 1795 also show surveying and business practices of post-Revolutionary New York. The collection's early documents (1767-1773) show some of the problems that arose due to the distance between the trustees in London and the iron works in New York and New Jersey. Documents in the later period (1788-1806), including checks and bills, create a portrait of a bankruptcy and liquidation of assets in this period.
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Access Restrictions
Materials in this collection may be stored offsite. For more information on making arrangements to consult them, please visit www.nyhistory.org/library/visit.
Use Restrictions
Taking images of documents from the library collections for reference purposes by using hand-held cameras and in accordance with the library's photography guidelines is encouraged. As an alternative, patrons may request up to 20 images per day from staff.
Application to use images from this collection for publication should be made in writing to: Department of Rights and Reproductions, The New-York Historical Society, 170 Central Park West, New York, NY 10024-5194, rightsandrepro@nyhistory.org. Phone: (212) 873-3400 ext. 282.
Copyrights and other proprietary rights may subsist in individuals and entities other than the New-York Historical Society, in which case the patron is responsible for securing permission from those parties. For fuller information about rights and reproductions from N-YHS visit: https://www.nyhistory.org/about/rights-reproductions
Preferred Citation
This collection should be cited as American Iron Company Records, MS 18, The New-York Historical Society.
Location of Materials
Immediate Source of Acquisition
Donation, 1991.