The district, near Alexandra, plans anniversary celebrations at Easter.
The Galloway Hall Society is organising the event and society chairman Nick Loughnan is keen to hear from people with early photographs or anecdotes which can be included in a book being written to mark the occasion.
"We hope to publish a history of the area and probably have a website too.
"It's a big undertaking but we've got the bare bones now, so it's a matter of fleshing those out," Mr Loughnan said.
The school was opened in 1912 and closed in 1941. The building has been converted into the district hall, which remains the focal point of the district and is in regular use.
The Shennan brothers, Watson and Alexander, from Scotland, took up some of the first pastoral grazing leases in Central Otago in 1857.
"The story of the young Shennan brothers is one of true pioneering endurance and hardship. Their runs included both Galloway and Moutere Stations, which were both substantially larger holdings than they are today.
"On to the treeless and uninhabited landscape, and plagued by wild dogs, they are credited with importations of some of the earliest merino sheep, which have eventually grown into the present-day thriving fine wool industry," he said.
Galloway was named after their native county in Scotland.
It was said they constructed a stone chimney at Galloway, which was the first European structure in the area. A commemorative chimney, incorporating a gas barbecue, will be built at the hall to mark the anniversary.
The district's schooling history was also fascinating, Mr Loughnan said. An earlier "assisted school" operated at Galloway Station in 1894 and closed in 1897 when a room in the Bank of New Zealand building at Springvale was leased to the Education Board for a school.
The school at Galloway opened in 1912 with one teacher and about 30 pupils.
