Iron Road Railways
Iron Road Railways Incorporated (IRR) was a railroad holding company which owned several short line railroads in the U.S. state of Maine, as well as the Canadian provinces of Quebec, New Brunswick and Nova Scotia. IRR was formed in 1994 and headquartered in Alexandria, Virginia. Its president was Robert T. Schmidt and officers included Benjamin F. Collins, John F. DePodesta, and Daniel Sabin. IRR owned the following subsidiaries: 2002 bankruptcy and divestment. In 2002, IRR's "Bangor and Aroostook System" (BAR, CDAC, VBB, and QS/NV) entered bankruptcy protection and service became jeopardized. Both Canadian National and  New Brunswick Southern Railway applied to the Surface Transportation Board for permission to operate former BAR lines that served major industrial customers in northern Maine. CN was granted permission to operate from Van Buren, Maine to Madawaska, Maine, while NBSR was granted permission to operate former BAR lines from Brownville Junction south to Searsport and north to Madawaska; neither applications became necessary after the BAR lines were sold. The BAR, CDAC, and part of the QS/NV were sold in October 2002 to Rail World which reorganized the lines under its newly formed subsidiary Montreal, Maine & Atlantic Railway. The NV  south of Newport to Wells River, Vermont was purchased by the state of Vermont and operation contracted to Washington County Railroad. The VBB had been operated on tracks leased from owner Canadian Pacific. In January 2003, Canadian Pacific sold this small line to Canadian National. Former IRR president Robert T. Schmidt retained ownership of the Windsor and Hantsport Railway while another former IRR officer Daniel Sabin took ownership of the Iowa Northern Railway.