Hagerman. In 1904 James Patillo (J. P.) Smith platted streets here in a 10-acre wheat field and established the town of Hagerman. Named for railroad attorney James P. Hagerman, the town consisted of 250 residents, a cotton gin, school, church, post office, railroad depot, and several businesses by 1910. The town prospered and grew to contain three churches and a three-teacher school. However, in the 1920s residents and businesses began to abandon the area when it became known that the creation of Lake Texoma would completely inundate the town. Lake Texoma was created in 1943. Sesquicentennial of Texas Statehood 1845 - 1995 #7380