Does the ferris wheel mean "Wheel of Iron"?

Haven't looked it up or checked otherwise, but I think there was an engineer named Ferris who designed the gadget. The Eiffel of the carnival world, as it were.

EDIT: Yes indeedy. Look at http://web.mit.edu/invent/www/inventorsA-H/ferris.html
which includes a reference to a tantalizing Contemporary Account of the ride at http://alphaclp.clpgh.org/CLP/exhibit/neighborhoods/northside/nor_n105b.html

Looks like an interesting site for other inventors, too.