Waterloo became the summer residence of Montreal industrialist James Davidson in the 1880s. Davidson was the son of Scottish immigrant Thomas Davidson, who founded The Thos. Davidson Manufacturing Company, Ltd., a producer of enameled tinware with offices throughout Canada and around the world. Davidson established "Ayrmont Farm" on the western side of the town. The main house, "Orford View," still stands on Mountain Street. The guest bungalow across the road and surrounding property are still in the hands of the family.