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Monument of Eugene Ashley
Eugene Ashley was born in Fort Ann, New York in 1863, but came to live in Glens Falls while still a young man. He decided to become a lawyer, as was the custom of the time, he studied in the law office of Brown and Sheldon. He became a partner with H. Pryor King at the corner of Warren and Ridge Streets. He bought a failing paper mill very cheaply: the mill was actually two mills in one, flax and paper. The flax left the water dirty, so the pulp didn't come out right. He figured out that if he filtered the water after it was used for the flax, the pulp would be fine. Thus the mill became very successful. Ashley believed in the need for hydro-electric power. He had the original idea for the Sacandaga Reservoir (An idea way before its time.) and the Spiers Falls Dam to help control the water flow for Finch and Pruyn Paper Mill in Glens Falls. He got approval for the Spiers Falls Dam and had property condemned so he could acquire it cheaply. However, the company that was supposed to build the dam backed out, and because of his impatience, he formed his own company and finished the project in 1903. He had a feud with the Portland Cement Company based on his need for 50,000 barrels of cement. He made a deal that he would sell electricity from the new dam to the cement company in exchange for the needed cement. Since the Portland Cement Co. already had its own power, they figured they would agree to the deal, assuming they would never have to pay as they expected the project would fail. Surprisingly, the project didn't fail and the company ended up paying for something that they didn't need or use. After this project, Ashley was worth $16 million. However, during a Banker's Panic in 1907, Ashley lost all his money. He moved south and worked on another power plant project and came back to Glens Falls worth between $2-3 million. He invested in the Adirondack Farms for Blooded Horses in Glens Falls. Horses from this farm raced on the famous Oval Track located in the present day section of Broadacres. Eugene Ashley was known as an "Idea Person" with endless energy and liberality.
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