'50s drama, can only remember small details

I watched half of this film on TV and can’t work out what it was called. I’m pretty sure it was made in the 1950s - about someone who turns up to a new town, there’s a town fair/fun event of some kind, a female character who’s drunk/possible alcoholic, a younger female character, a scene involving a lake (either a drowning/someone falls in the water).

I’ve looked through all the famous melodramas of the era and just can’t find this film. I just want to watch the whole thing as I was really enjoying it!

This sounds like Picnic to me! Starring William Holden and Kim Novak and released in 1955.

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