Two years later, in 1896, the railroad was sold by court order at an advertised auction for $25,000 to satisfy its debts.

Soon, the railroad found itself in difficult financial straits and was sold in foreclosure on August 5, 1879.

The railroad was sold at foreclosure on November 29, 1902.

In 1918, all three railroads were closed and sold for scrap.

The railroad was sold again at that time, and the portion north of Readsboro was abandoned in 1937.

Due to economic problems the railroad was sold after the war, and Morgan purchased the entire assets.

The railroad was eventually sold to the Illinois Central and widened to standard gauge.

Long abandoned his plans, and the railroad was sold to a group of businessmen in the area who worked to preserve it.

The railroad was sold for scrap in June 1917.

Late in 1872, the railroad defaulted on a mortgage and was sold under foreclosure.