Buckeye Furnace, located near Keystone and Wellston, Ohio, was financed by the Newkirk, Daniels & Company and constructed by Thomas Price in 1851. It was finished prior to the railroad being completed in the county, and several hundred tons of iron had been hauled to Jackson to await the first freight train outbound. The furnace, with an 11-foot bosh, initially produced 7½ tons of iron per day, operating 42 weeks out of the year. The stack was later raised to 34-feet in height to increase daily output to 12 tons of iron per day.
The furnace was sold to H.S. Bundy in 1862, the Perry Austin & Company in 1864, and the Buckeye Furnace Company in 1867 and was operated until 1894.