During the late 1800's, iron created a boom in Kentucky, and the discovery of iron ore in the Grand Rivers area attracted Thomas Lawson and the Grand Rivers Company there. The company owned 18,000 acres of mineral lands, 3,000 acres of coal-bearing land, and 3,000 acres for the site of the city. The furnace included two sixty-ton burners and was one of the most advanced smelters in the country. Its twin stacks could produce 45,000 tons of iron annually. It operated only a short time under the Grand Rivers Company. During the late 1800's, higher grade ore was discovered in the Great Lakes area and Birmingham, Alabama, and the furnace then operated intermittently until it was demolished in 1921.