While the Panic of 1857 occurred and the Civil War was fast approaching, the timberframed building with its 80-foot wooden trusses was opening its doors. It started out as the home to the H.E. Teachout Boiler Works company, a maker of blast furnaces, oil tanks, stills and condensors. After Howard E. Teachout passed away in 1894, James D. Farasey became proprietor of H E Teachout for five years until his death. The family renamed the company to J D Farasey in 1917 in honor of James. After nearly 50 years of ownership, the Farasey family sold the company to Leo Schmidt in 1954. His team, which included the future owner, Jack Henderson, began to steer the company into the new direction of steel fabrication. Jack became sole proprietor of the company in 1963. Jack's grandson, Joe Henderson, is the current president and has been at Farasey Steel Fabricators for 35 years.