In 1784, the Oneida people ceded all territory to the state of New York except for a tract of land around known as Penet Square. The Oneida considered the tract as a gift to Pierre Penet. After Penet's death, rights of land ownership were blurred and squatters occupied the territory as early as 1785. Catfish Falls was a settlement at the head of the Chaumont River, named after the waterfall within the settlement. The squatters that inhabited this area were often called "Catfish People", marking their settlement from the clearing of trees establishing its boundaries. In 1816, merchant Francis Depau purchased several lots in Penet Square including Catfish Falls, later renaming the settlement "Depauville" after himself.