This city is a retail, banking and commercial center for a three-county area. It was developed in 1899 as a project of the Texas Central Railroad, and it was named after the Connecticut hometown of the railroad president.

The city is known for its Texas Cowboy Reunion, four days around July 4 dedicated to the Old West. The Reunion was started in 1930 as a nonprofit community enterprise, and it is unchallenged as greatest amateur rodeo in the world. The population of city more than triples when rodeo contestants and spectators converge. Food is served from chuck wagons and the event includes a major Western art show.