The "OLD DAM" was a wooden dam and its remains lie between the railroad bridge and the US24 Bridge, kinda out from the back end of Michelin Tire. If you don't know what your looking for its kinda hard to find but it almost resembles an old corduroy road (i.e. a bunch of old timbers layered in a row from one side of the river to the other).
There is a small Island between the two bridges and straight down stream from that Island there is a very deep hole that runs next to a very large limestone bolder, stand up by the Island and cast towards the bolder and see what happens.
I might add that most people overlook the Wabash River, for some odd reason most people think its only good for Catfish & Carp but it contains just about every species you would want to catch.