While the slopes of the mountains are the present focus of economic activity, until comparatively recently residents of the area were more interested in the mountains' innards. The vast Crowsnest Coal Field lies just to the east of the city, and Fernie owes its origins to nineteenth-century prospector William Fernie, who established the coal industry that continues to exist to this day. Acting on pioneer Michael Phillips' twin discoveries of coal and the Crowsnest Pass a few years earlier, Fernie founded the Crows Nest Pass Coal Company in 1897 and established a temporary encampment near Coal Creek. The Canadian Pacific Railway arrived in the valley the following year, and a townsite emerged parallel to the railway line slightly north of the initial encampment, or Old Town.: