According to the Putnam Valley Historic Cemeteries Site:

In quite early times (c. 1794) tradition states that Richard Curry came up to Peekskill Hollow from White Plains. He traveled by horse wtih his wife, bringing all his worldly goods with him, and settled below Adams Corners. While sitting one summer day with his young child between his knees, a flash of lightnening struck and killed the child instantly, leaving the father unharmed. The young victim of the “fires from heaven” was buried on the hill on the west side of the roakjd, and from that time to the present day this has been the village cemetary. (from History of Putnam County, by William Pelletreau).

The title of this burying ground seems to have remained in doubt for many years. October 5, 1842, Charles Adams and others sold, for a nomial consideration, to “the trustees of the Methodist Episcopal churce of Philipstown Circuit, in Putnam Valley,” “all that certain tract of land situate on the northwesterly side of the Peekskill Hollow raod, beginning at an ash tree standing by the brook on the northwesterly side of said road, and running along the land of Nichols Purdy, thence north &ce., for the use of a burial ground for the neighborhood, and for all other persons, whom the party of the second part may permit to be buried there.”

The earliest grave is that of Ann Hills, born 1746, died January 30, 1794. Twelve Revolutionary War veterans are buried here, as well as a European Princess (Phebe Lehman), who with her German husband (Andries/Andrew Barger) settled in the area about 1700.