Buckeye Furnace was the second charcoal-fueled iron furnace built along Raccoon Creek. Constructed in 1851 by Thomas Price and financed by Newkirk, Daniels and Company under the name of Buckeye Furnace Company, it in its early years produced an average of 7.3 tons of iron daily during a 42-week blast period. Later construction increased the height of the stone stack and raised the furnace's output to 12 tons per day. In 1862, the company was sold to H. S. Bundy, who operated it for two years before selling it to Terry, Auston and Company. In 1867, a new Buckeye Furnace Company bought the operation and ran the furnace until 1894, when operations ceased.