Established as the Archer County seat in 1881, the town in its early years was a retail and shipping center for area ranches. It remains a retail center for the county. Agriculture includes ranching, and wheat and dairy farming. Shallow oil wells drilled in 1920s still contribute to area economy.

Outdoor recreation includes a nine-hole golf course, and a city park with swimming, picnicking and RV hookups. Seasonal hunting for dove, wild turkey, quail and deer.

Booked Up Inc. bookstore offers the largest collection of antiquarian books in the U.S.; gathered by native son Larry McMurtry, author of the popular novel, Lonesome Dove. It includes rare and unusual books, as well as out-of-print publications. The store is in renovated buildings on both sides of Main Street. 940/574-2511.

The city is the location of two movies based on novels written by McMurtry: The Last Picture Show filmed in 1971 and Texasville in 1989.