When the Cornwall Street Railway, Light & Power Company decided to get out of the street railway business in 1970, the LT&L purchased those assets to operate as the Cornwall Terminal Railway.
When the city of Cornwall purchased the mass transit operations of the Cornwall Steet Railway in 1971, the CTRY was evicted from the CSR’s carbarn on Water Street, so a new carbarn was built just east of downtown near Marleau & Carlton streets, followed by extending the railway to a new industrial district at Boundary Road.
In 2009, the CNR abandoned their branch into downtown Cornwall (this used to be part of their Montréal to Toronto mainline, which was relocated when the water levels on the St Laurence were raised to allow larger ships to navigate the seaway), which the CTRY subsequently purchased so they could abandon their remaining street trackage on Seventh & Cumberland streets.
Cornwall used to have a lot of online industry, but it was running down in the 1970s, and the existing motive power – a mess of Baldwin steeplecabs – were slowly taken out of service, with the last two – B-W class D #15 & class S #17 – being replaced with a pair of class O motors in 2005. None of these old Baldwins were scrapped, though; about half of them have been donated to various museums, #17 is on display in Cornwall, and the remainder are stored in the new carbarn.
| number | class | builder | built | retired | notes |
|---|---|---|---|---|---|
| 1 | O | Portland | 2005 | ||
| 2 | O | Portland | 2005 | ||
| 6 | B | B-W | 1919 | 1980 | ex-Kansas City, Kaw Valley & Western #502 |
| 7 | B-1 | B-W | 1923 | 1972 | ex-Springfield Terminal #15 |
| 8 | D | B-W | 1924 | 2002 | ex-Aroostook Valley #54 |
| 9 | D | B-W | 1913 | 2002 | ex-Niagara Junction #4 |
| 11 | B | B-W | 1920 | 1972 | originally Youngstown & Ohio River #7, to the Ohio Railway Museum 1972. |
| 12 | B | B-W | 1917 | 1972 | ex-Utah-Idaho Central #904, to the Shore Line Trolley Museum 1972. |
| 14 | B-1 | B-W | 1929 | 1972 | ex-Springfield Terminal #20, to the Illinois Railroad Museum 1972 |
| 15 | D | B-W | 1915 | 2005 | ex-Lake Erie & Northern #333 |
| 16 | D | B-W | 1915 | 1995 | ex-LE&N #335, to Halton Country Radial Railway 1995 |
| 17 | S | B-W | 1930 | 2005 | ex-Grand River #230, to the city of Cornwall 2005 |