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In August 1801, General Brodhead sold to David Hoopes, a resident of Chester County, PA, the land along the Beaver River now known as New Brighton for the use of a firm of Messrs. Hoopes, Townsend & Co. who intended to utilize the superior waterpower afforded by the site. At this time, there were three general divisions of the falls of the Beaver... the Upper, Middle and Lower. (Reprinted from "Historical Chronicle" featuring "Beaver County.")
The Upper Falls, owned by Dr. Samuel Adams, an early settler and a prominent citizen whose descendants were leading spirits in the future developments of the county. Few early enterprises were regarded assured without the cooperation of his son, Dr. Milo Adams. Dr. Samuel Adams owned and managed a sawmill at his site.
The Middle Falls, owned by David Hoopes, who, with the aid of Townsend & Co. as partners in the firm of Hoopes, Townsend & Co., erected a sawmill. In a short time this was burned down, but a new one, Phoenix-like, sprang from its ashes; afterwards it was increased by the addition of a flouring mill, the second of the kind in the valley. Not long thereafter the company began the erection of a forge on the river a short distance above the mills; but before the work was completed, the whole property came into the possession of Issac Wilson, the transfer being made in 1805. This forge was completed in 1806, and began to be operated. Mr. Wilson built also a charcoal furnace, but, prior to its completion, he had sold a half interest in the entire plant to Messrs. Barker & Gregg for $16,000, the sale being consummated September 13, 1808, and the new firm being known as Isaac Wilson & Co.
The Lower Falls, owned by David Townsend, Benjamin Townsend, Evan &John Pugh, and Benjamin Sharpless, an account of which will be found in connection with the boroughs of Fallston and New Brighton.