In October 1895, Victor Adams assembled a group of investors together in Little Falls and secured an arrangement with Garmon and Crosby to purchase a 50% interest in the Forge Tract properties. The group’s business plan was to enlarge and improve the Forge House, to build a two-mile railroad from Fulton Chain Station to the Forge House dock and to begin development of the tract into a resort town. They would eventually also establish a transportation company that would buy the independent public steamers on the lower four lakes.
The name of the syndicate would be The Old Forge Company, often referred to as the Old Forge Improvement Company. In addition to Garmon, Crosby and Adams, the directors would also include Nelson R. Gilbert, J. Judson Gilbert, Homer P. Snyder and Hadley Jones. Samuel F. Garmon was the company’s first president and Titus Sheard was a director in the new railroad company. The company soon completed surveys of the Forge Tract, laid out the first streets named after most of these individuals in Spring 1896 and filed the first village map with the Herkimer County Clerk’s Office. » Continue Reading.