Historic Speedwell preserves the Morristown estate of Stephen Vail, owner of the Speedwell Ironworks. During the 19th Century, the Speedwell Ironworks became a major industrial center in northern New Jersey. Today, the millrace is gone, the building are leveled, and little remains of the Speedwell Ironworks; it closed in 1873 and the equipment was sold in 1876. After 1876 the buildings decayed slowly until a 1908 fire destroyed all but two portion of the Iron Works' walls. These remains can be seen at the foot of the falls of the Speedwell Lake which is now a public park.
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