b'High up into the hills they went with pack horses, exploring the Rockaway River rst, looking for the Indian Sock-Soona, meaning black stone. As veins ofore were discovered, forges and furnaces were built near the newly found deposits. Eventually they came to Ringwood and Charlotteburg.In 1736, Cornelius Board, looking for copper but nding iron instead, started buyilng, with his partner Timothy Ward, small acreages ofland along the Ringwood River. We nd reference to the Busseton Forge operating the next year along this river.[2] By 1740 the Ogdens had bought the land from Board and formed the Ringwood Company. They are believed to be the rst to have engaged in mining operations on a large basis.By 1759, an narrow strip ofland along the Pequannock River, comprising 94.07 acres, was re-corded as being surveyed for the Ogdens. It lay from the area ofPequannocks Reservoir* going south-east to about Smith Mills. Evidence points to the fact that they may have erected a forge here at a point along the river just southeast ofthe North Gate ofSmoke Rise.[3] As early as 1742, the Ogdens were supposed to have purchsed from the proprietors a great number ofhalf-mile to two-mile long strips. These strips were sometimes only 65 feet wide.[4] They lay along the Pequnnnock River and other streams and were for the purpose ofsecuring the water power so essential to early industry.The iron orc found in the Ramapo Mountains and in the northern hills beyond the Watchung ridges is called magnetite. It is a form ofiron oxide with the highest known iron content. The fact that it could he smelted by known techniques, and that necessary fuel for doing this was close at hand, was most important. This fuel was charcoal which was made from burning wood nbraihed from the large number oftrees in the forest. The land was also rich in fast-owing streams needed to supply water power for furnaces and forges. The ore was easy to mine, largely due to the geologic history ofthe area. It lay close to or at the surface.England-based entrepreneurs, desiring to prot from the wealth to be gained by the production ofiron and aware ofthe resources available for its processing inAmerica, set about forming a company. This investment rm was called the American Company. Here in America, because ofits base ofoperation, it was often referred to as the London Company.Peter Hasenclever, ofGerman background, who was trained in its steel mills, was to manage the American based operation, He arrived in the colonies in June. 1764. By July 5, 1764, he had arranged for thc purchase ofthe Rlngwood Companys iron enterprise from the Ogdens.On October 25, 1765, Hasenclever also bought 6,475.08 acres ofwhat was to become known us The Great Charlotteburg Furnace Tract. The purchase was made from Oliver Delaney, Henry Cuyler. Jr., and Walter Rutherford, agents ofthe East Jersey Board ofProprietors. About 1,000 acres ofthis tract was in eastern Rockaway Township below the Pequannock River at Charlotteburg Pond (now Newarks reservoir). A large portion ofthe tract was above the Pequannock River in Passaic County, then part ofBergen County. *Pequannock Reservoir is locally called the Charlotteburg Reservoir and is part ofNewarks water supply.124'