The Lynton & Barnstaple Railway maintained an exemplary safety record throughout its short existence, from 1898 to 1935, and no passengers or members of the public were ever killed or injured.
Whilst running down the 1 in 50 gradient from Bratton Fleming to Chelfham, the speed increased and the vehicle's brakes were unable to control the descent.
Upon reaching a sharp reverse curve by bridge 25, the wagon left the track, coming to rest at the foot of the bank.
The two men who survived, Foreman Ganger George Dymond and F. Dinnicombe, attributed the accident to wet leaves on the line.
The wagon was recovered, repaired and returned to service, with the replacement planks left unpainted for some time after the accident.