Originally, of what would become the town site was acquired by James Perry in a 1798 land grant. In 1811, Henry Roundtree (an assignee of James Perry) sold the land to John Owens for $190. Owens added to the tract. After his death, his executor sold his 342½ acres to Thomas T. Duke for $1,732.00. Duke, in turn, sold the entire tract to the Knob City Land Company. Duke received $6,850.00 for the land, or $20 per acre—a record amount for a land sale in Barren County at that time.