Isaac Pennock grew up in a time period where men were content with farming their lands. Joseph Pennock, Jr., Isaac's father was one of them.
When Isaac decided that he would like to enter the iron business, both of his parents who were Quakers, Joseph and Sarah Taylor questioned this decision.
In 1790s he established a plant on Buck Run, known as the "Federal Slitting Mill." Doing this Isaac had considerable experience in the occupation. He recognized the need for iron products with the revolution and saw the open market. Then, Isaac left home near Coatesville and went to Wilmington.
There a friend lent him the money to start the rolling mill. Isaac found a business partner in Jesse Kersey, who was a minister of the Society of Friends. The two of them pulled to get support from Kersey's father-in-law Moses Coates (the origin of the town name). They purchased from him 110 acres of farmland and a sawmill that had the well-known water wheel in 1810. About 1814 Isaac bought out the interest of Kersey for $14,000.
