Gasburg, Indiana is located around the intersection of State Road 42 and Gasburg Road. On the map it is shown as, east central Section 5, and west central Section 4, in Monroe Township, Morgan County, Indiana. The main landmark of the once busy town is the old Gasburg School #6. It is now the Midway Auction School, located at 1790 State Road 42. In 1874 the "People's Guide" reported the following of the village.
"Gasburg is situated in Monroe Township, an the gravel Road midway between the towns of Monrovia and Mooresville, and contains about 40 inhabitants. It has one store, one shoe shop, one blacksmith shop, a steam sawmill, and a post office."
The co-founder of Monrovia Indiana, Gideon Johnson, is reported to have named, or been the namesake of the village of Gasburg. There are two legends surrounding the name. In one, the town was named after the "windiest" man in the county, Gideon Johnson, honoring his tall tales and "gas." The other legend refers to the "Athenian Debating Society," which in the late 1800s, held meetings on Saturday afternoons in the summer and Friday evenings in the winter. This story tells of the town being nicknamed by local cynics who made fun of all the "gas" blown off during the debates. In either case, the name proclaims a rich oratory history.
January 13, 1874 the first post office was established by John Weesner. The original name of the office was not available, but on October 12, 1892, the office closed and reopened as "Gasburg." On May 31, 1904 the post office closed.
Sometime after 1920, the town had a gas station, blacksmith, harness and shoe shop, and a general merchandise wagon, also known as a huckster wagon. The wagon worked out of the building which had been the Gasburg School.