Deadwood, previously known as Linus, is on Farm Road 2517 some ten miles east of Carthage in eastern Panola County. The area was first settled in 1837 by Adam LaGrone and his family, who built a homestead not far from Socogee Creek. Around 1860 LaGrone's son, H. C., built a mill and gin that became the nucleus of the later town. The small settlement was originally known as Linus, but when residents applied for a post office in 1882, another town already had that name, and the new name Deadwood was chosen at a town meeting. By 1885 Deadwood had an estimated population of fifty, two churches, a district school, and a steam cotton gin and gristmill. A hotel was built there around 1900 but went out of business a few years later; the local post office was discontinued in 1917. In the mid-1930s Deadwood had a church, a school, and two stores; its reported population in 1936 was 125. After World War II the community's school was consolidated with the Carthage district, and the remaining businesses at Deadwood closed. In 1990 Deadwood was a dispersed rural community with a reported population of 106. The population remained unchanged in 2000.