From Putnam County History: Indiana Sesquicentennial, 1966... "Greencastle's largest 19th century industry, however, was not based on local products. In 1867 an Iron and Nail Company "for smelting and rolling iron and manufacturing nails" was set up with a capital of $60,000 with John F. Darnell [should read James F. Darnall] as president. Its main buildings were south of what was later known as the Pennsylvania Railroad, between Locust and Bloomington Streets. Its main building was 170 by 180 feet, and others were added. Operations were under the supervision of of John Lundy of Pittsburgh. It soon employed 125 men, and 200 men by 1878. Its production in 1876 was 250 kegs of nails of all sizes weekly. According to a New Albany paper, in 1869 the three largest iron and nail mills in the state were in New Albany, Terre Haute and Greencastle. Its prosperity decreased in the 1880's as it continued to manufacture iron nails while other factories were turning to steel. In the middle 1890's it moved to Muncie, attracted by the natural gas discovered there and the inducements offered by that city."