Fairbank was founded during the 1880's silver mining boom. Once called Kendall, it began as a stagecoach stop on the way to Tombstone, then one of the biggest towns in the West. The wild characters that made Tombstone famous also walked the dusty streets of Fairbank. In 1882, when it was known as Junction City, it was renamed by Chicago grain broker Nathanial Kellogg Fairbank, who helped finance the railroad and was an organizer of the Grand Central Mining Company in Tombstone. That same year, a wye for turning locomotives was installed and the New Mexico and Arizona Railroad turned abruptly west to Nogales and Sonora, Mexico. The town already had a store, a saloon, and several houses. In the late 1880's, construction of the Arizona and Southeastern Railroad spurred business activity in Fairbank and made it a major transportation hub, where people transferred trains or caught stagecoaches to Tombstone, Bisbee, and other mining towns. Many residents worked at the nearby Grand Central Mill from around 1879 until 1883, while others worked at stores, saloons, restaurants, or the hotel. In 1888, Fairbank had four stores, five saloons, three restaurants, and lots sold for $50 to $150.