In 1849, Eliza Ann Scott purchased the lot on the corner of Main and Church streets from the New Jersey Iron Company and soon built a two-story building, which was apparently used for commerce. In 1856, she sold it for $5,000 to James Holmes (1815–1893), who was superintendent of the Taylor & Lord Nail Factory and one of the wealthiest individuals in the community. He then used the building as his residence and c. 1874 added a third story.[5] Upon his death in 1893, the property was bequeathed to the Boonton Public Library Association, along with $8,000 to fund its operation.[3][6] Since the building was larger than the library needed, the extra space was rented to various organizations. In 1895, printing presses for The Boonton Times were installed in the basement.[5] The library has been serving the town since 1894.[7]