An attempted mule ride leads to a runaway mule and rider diving into an open-topped coal shed and sliding down the coal chute in a cloud of coal dust. Leaves the property to his wife Hannah Hawxhurst. Later Peter takes over the management by himself. Also same for use of Lake Superior ores. Ramapo Ore Company leases the ironworks for a period of 50 years.
Sterling becomes a ghost town.
Robert W. Dowling and his associated wanted an area with floral gardens, private homes, modern research laboratories and the quarrying of rock, stone, and gravel from abundant out-croppings in Sterling. They wanted to create an integrated community of work, home, and recreation in the same place. Sterling Forest gardens were four miles north of the furnace ruins. They had colorful formal flower beds as well as peacock, flamingoes, and other exotic birds. Roland Robbins, restoration of the ironworks at Saugus, Massachusetts, was given the task of excavating the old Sterling Furnace.