Pickands later diversified into pig iron, coal, and shipping in partnership with Samuel Mather, Jr. (son of founder of Cleveland Cliffs) and Jay Morse (Pickands' brother-in-law.) Pickands & Co Mather was founded in 1883 and became the second largest producer of iron ore in U.S. The mining interests sold to Cleveland Cliffs in 1986, and the shipping business continues to this day as Pickands Mather Group.

After Pickands wife passed in 1882, he went back to Cleveland with his family and sold the hardware business and building to its second owner.