Dismantling of the company now began in earnest: the last iron was made at Alburtis in 1921, at which time Hokendauqua was also out of blast. No. 11 at Hellertown produced a small quantity. On June 30, 1922, the company's stock was sold to Drexel & Company, which disposed of its assets over the next few years. Railroad stocks were sold to the Reading, Lehigh Valley, and Central Railroad of New Jersey, the first two becoming joint owners of the Ironton Railroad. The furnaces and other assets, including the Richard Mine, were sold to the Reading Coal and Iron Company, which sold the Alburtis and Hellertown plants for scrap. No. 1 stack was quickly abandoned in 1924, leaving only No. 3, renamed "Mary Furnace" in operation at Hokendauqua. It, too, was abandoned in 1927, and the Hokendauqua plant was sold to Bethlehem Steel, which scrapped it in 1936. The company surrendered its charter in June 1942.