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Pactolus Ironworks
Moses Cavitt built the iron works in about 1789. Shortly thereafter, in 1795, John Sevier, his son John Jr., and son-in-law Walter King acquired it through a 400-acre land grant on the Holston River in 1782. When the Seviers bought the property it consisted of 585 acres and the price was 965 pound, Virginia money. In August 1895, John Sevier "put into the hands of Walter King a 300 acre and a 640 acre warrant to be laid on lands in Sullivan Opposite the Iron Works on the No. 2 side of holsen, also a 200 acre & 640 acre warrants to be laid on vacant land Adjoining the lands on Kendrick’s Creek"
It was acquired later by Elijah and Elihu Embree, East Tennessee ironmasters. whose Pactolus Nail Factory was located 1/4 mile downriver and was operated by Jonathan Wexler
The Embrees renamed the mine and factory the Pactolus Ironworks. Elijah Embree continued to operate the Pactolus Ironworks after Elihu’s death and expanded the holdings when opportunities arose. He acquired "an Iron Bank known by the name of Horse Creek ore bank" in 1823. He also obtained several adjacent land grants, totaling 1,200 acres, under an act of the Tennessee legislature intended to encourage the iron industry. However, he gradually moved production to the Embreeville area, and operations at the Pactolus plant ceased sometime in the 1830s.