As a 23-mile (37 km) common carrier prior to May 1973, it was the last all steam locomotive-powered, mixed train railroad operating in North America.
The railroad operated 23 miles from a connection with the Missouri Pacific at Reader to an asphalt plant located at Waterloo.
Though no longer in operation, either as a common carrier or as a tourist attraction, it has drawn many to the area and was a featured set piece in film and television as well as a number of national magazines.
Reader Railroad continued to work the river bottoms and creek valleys, hauling timber and freight until the mid-1950s, when the parent company was dissolved.
They, in turn, sold it again in 1980 to the present owner, R. A. Grigsby, who focused on emphasizing the history of Reader Railroad and the role it played in the development of south Arkansas.
The engine then picked up the train, while the caboose was placed on the rear for the return trip, a total of five miles, taking approximately two hours.
The railroad operated a single stall tin covered enginehouse where all locomotive and car repairs were made.