[5] William E. Brice, local utility magnate and a founder of the railroad, sold his interests to United Light & Railway Company in 1913.

The successor of United Light & Railway was liquidated in 1950, and the railroad was sold to a utility executive at that time.

First, a fire originating in a neighboring lumberyard on Thanksgiving Day in November 1967 destroyed the carbarn at Emery along with several pieces of rolling stock, the railroad's primary rotary converter, and a large supply of tools and spare parts.

In May 1968, a tornado struck Charles City, destroying much of the downtown and severely damaging the Iowa Terminal's overhead wire there.

Diesel power was already used to serve the White Farm Equipment tractor plant, which did not allow electrified service inside its foundry.

In 1980, the Staggers Rail Act provided flexibility that permitted smaller crew sizes and other changes.

During the fall of 2012, Progressive Rail, a shortline holding company based in Lakeville, Minnesota, purchased the Iowa Traction Railroad.

[7] According to Progressive's President Dave Fellon, "It's [Iowa Traction] right in our wheel house [and] fits our model.

Comments by Progressive Rail officials in Trains Magazine indicated that the company planned to continue use of electric locomotives, possibly supplementing them with diesel, and that it was exploring the reopening of the line from Emery to Clear Lake.