The new Iron Company flourished for nearly 50 years. The settlement of Booneton Falls – like the older Booneton downstream – was essentially a one-industry town. After the Company closed down its operations in 1876, the town was on the verge of collapse. Although several attempts – one by Joseph Wharton – were made to re-establish iron works on a smaller scale, none endured for any great length of time. In the 21st century, only vestiges of foundations and structures remain in the "Hollow" between Plane Street and the river, to remind Boonton of its own Iron Age.