The discovery of iron ore on the Mesabi Range can hardly be credited to one person. In 1890, however, it was the family of Lewis Merritt that discovered merchantable ore and opened the Mesabi to industry. Within three years, they owned several mines and had built a railroad leading to immense ore docks in Duluth. On the cusp of controlling a mining empire in northern Minnesota, they lost everything to business titan John D. Rockefeller.
The Faribault Woolen Mill Company has statewide significance as one of the largest and oldest fully integrated woolen mills in Minnesota. The mill started as a small family-owned business in the nineteenth century and grew to become the largest and longest-surviving woolen mill in the state.
Statue of Leonidas Merritt in front of the public library in the town of Mountain Iron, 1940. The inscription reads: "Leonidas Merritt, 1844–1926, Pioneer Prospector, Number One of the Seven Iron Men."