Complex sentence: The island housed a plant that rendered horse bones (supplied from the streets of New York City, and others) into glue, which activity inspired the name Dead Horse Bay to the still extant water body on the western shore.
Split into simpler sentences: The island housed a plant that rendered horse bones (supplied from the streets of New York City, and elsewhere) into glue. This activity inspired the name Dead Horse Bay to the still extant water body on the western shore.