Today it is owned by SEPTA and hosts the Fox Chase Line commuter rail service.

The Philadelphia, Newtown and New York Railroad's initial line branched off the Connecting Railway (now the Northeast Corridor) near Erie Avenue, and ran almost due north to Olney and across the Tacony Creek to Cheltenham and Fox Chase.

The Pennsylvania Railroad controlled the line at the beginning, and contemplated extending it across the Delaware River to create a new through route between Philadelphia and New York City, although this never occurred.

[a][3][4] The company further extended the line 15.45 miles (24.86 km) from Fox Chase to Newtown on February 4, 1878.

The plan at the time was to build a connecting branch west from Olney to a junction with the Tabor Branch near Wayne Junction and route passenger trains to the Philadelphia, Germantown and Norristown Railroad depot at Ninth and Green.

[8] Administratively, the Newtown Branch's southern terminus was cut back to Cheltenham Junction once the New York Short Line opened.

[12] SEPTA ran a modified version of the diesel service, called the Fox Chase Rapid Transit Line, between October 5, 1981, and January 18, 1983.