The Money Men

The Money Men. . , UNBRIDLED AMBITION , These men of influence were financial backers, but they were also active in all aspects of the iron works from discovery to production. Life-long friends and business partners, they lived parallel lives that included a drive to create a profitable iron industry at Adirondac., STRUGGLING FOR PROFIT , There were many obstacles in the way of paying the men back for their investment and it was a constant struggle for them, but they persisted for years against all odds. Eventually, a series of calamities: the death of Henderson, a major flood on the Hudson, and a national economic downturn, conspired to derail their business., JUDGE DUNCAN MCMARTIN JR. , (1776-1837) , A land surveyor and Brother-in-law of Archibald McIntyre, emigrated from Scotland, served as judge in the Court of Common Pleas, owned a large farm, lumber and grist mill, and woolen factory in Broadalbin, New York. , 1819 - elected to New York State Assembly , 1820-1830 - served in the New York State Senate , 1826 -member of the prospecting party that verified the Hudson River valley ore discovery , 1827 - original patentee of the Adirondac Iron Works , 1834 acting superintendent at the works, ARCHIBALD MCINTYRE , (1772-1858) , Principal investor in the iron works, emigrated from Scotland, taught school in Albany, took up surveying, farmed in Broadalbin, served in state government. , 1799 - elected to the New York State Assembly , 1800-1801 - served as Deputy Secretary of State , 1806-1821 - served as State Comptroller , 1823 - elected to New York State Senate, THE PARTNERS' TASKS , Map Highlights (north to south), Produce Iron , In 1809, McIntyre, with two partners, Malcolm McMartin and David Henderson, erected a water-powered forge on the Chubb River, near Lake Placid, and started the Elba Iron Works. While working in North Elba, they continued to search for other sources of ore., Explore the Wilderness , McMartin was in the party that made the arduous trek through Indian Pass to investigate a report of rich ore deposits along the Hudson River., Acquire the Land , Upon verifying the source of ore, the partners rushed to Albany to secure title to the land, and, using their influence to speed up the process, eventually acquired over 100,000 acres., Procure Supplies , While in Albany the partners made arrangements for purchase and transport of supplies and building materials to build and support the works., Develop the Ore , The partners worked to secure financing and also participated directly in supervising the work on site to mine and smelt the iron., Convince the State Legislature to Build Roads and Railroads , In 1828 Senator McMartin, secured passage of an act to build a road from Port Henry to Adirondac. He also lobbied for a railroad to be extended to the works for transporting the iron to eastern markets, but that railroad was not built.