Community of Jermyn. Located on the western edge of Lost Valley, a 20-square mile area of Jack County, Jermyn was founded in 1909 as site of the roundhouse, depot, and office building for the Gulf, Texas & Western Railroad. It was named for J. J. Jermyn (1852-1928), line's president. Land for the town was donated by Oliver Loving II (grandson of "Dean of Texas Trail Drivers") and W. P. Stewart. Many lots were sold and the town embarked on two decades of prosperity and progress. A school was built about 1912 and Jermyn came to have numerous businesses, including a hotel, garage, bank, two general stores, blacksmith shop, land office, cotton gin and warehouse, restaurant, drugstore, ice house, lumber yard, confectionary, U.S Post Office, and a newspaper --The "Enterprise" -- succeeded by the "News". With the sale of the G.T. & W. Railroad to the Frisco system in 1930, however, a gradual decline set in. By 1936 the line curtailed passenger service, then all service. Highway construction hastened the railroad's -- and the town's-- economic demise as citizens moved to the cities to find work, and businesses closed. Today the post office, two churches, and a general store still function and part of the school serves as a civic center. Current economic base is ranching. (1972) (1972) #1010