Industry
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"Newtown," or "Thrift," originated about 1919 in the Northwestern Extension of the Burkburnett Oil Field. Early in its existence it gained prestige by the founding of a bank, the only one in the area at that time. Mostly a tent city, Thrift suffered many fires. One of these, started by lightning striking an oil tank in 1920, caused two deaths and wiped out much of the town. Thrift's Post Office opened in 1925. After the population shrank to 30 in 1929, the bank, a church, school and store served people living at oil field pump stations, but all of Thrift's buildings are now gone.
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