Wallace Creek is beside a stream with the same name near Ranch Road 1030 five miles southwest of San Saba in central San Saba County. Jackson Brown, J. McDaniel, and Matthias Harkey and his sons settled beside the stream in November 1854. Other early settlers included Chaney Crouch, Irvin Campbell, Joe Campbell, Jack Latham, James Henderson, W. Thaxton, George Conway, Jack Hinton, and the Haldens. Although James S. Bourland, Reuben W. McKee, David Taylor, and other settlers had promoted Wallace Creek as the county seat, the community lost to Rowe's Land in an election held on May 3, 1856. Rowe's Land, however, lost in a special election, and San Saba became the county seat. A church was still located at the townsite in 1984.
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