What's the name of this western movie?

I'm looking for the name of this western. It has Paul Newman or Steve McQueen or someone like that. The basic plot is about a guy wondering in the desert when he stumbles upon a water source. So he goes into the closest town and buys the land cheap. Since this is the only water in the surrounding area of the desert, he sets up shop selling water and food to travelers. Does this sound familiar to anyone? What's the name of this movie?