It ran through picturesque terrain in the Upper Wye Valley, but construction costs considerably overran early estimates.

The promoters hoped their line would form part of a trunk route for goods and mineral traffic between South Wales and the English Midlands, but this never developed.

The decline in the use of local railways rendered the line heavily loss-making and in 1959 passenger services were withdrawn.

Monmouth was important enough that it was stated that the line would pass within "easy distance" of the town, but that claim was comparative.

In fact the Cheltenham and Great Western Union Railway was the means of reaching Gloucester on the east side of the Severn.

The intention of the promoters of this line was to give a route for the iron and coal products of the Forest of Dean around Coleford, to the ironworks of South Wales, in particular to Nantyglo, Ebbw Vale and Dowlais.

Shortage of money meant that the company did not attempt the construction of the authorised extension from Monmouth to Coleford, which would have required an expensive crossing of the River Wye.

The relatively short distance might not incur excessive cost, and it was possible that the line could form part of an important chain of railways through to the industrial districts of the West Midlands.

Instead of being on the west of the River Wye (roughly the line of the present-day A40 road) a route following the west bank of the river seemed to be preferable; a branch to Lydbrook, where there were extensive mineral deposits, was now included, and an increase of capital to £160,000 was sought.

[1] Eventually the line was ready between Ross and a station, intended to be temporary, was erected at May Hill, Monmouth, and an opening date of Friday 1 August 1873 was published.

[3][5] The May Hill station at Monmouth was in fact more convenient for pedestrian access to the centre of Monmouth than the Troy station of the CMU&PR, but of course through mineral traffic was hoped for, and work was progressed on the connection, which required a considerable bridge over the River Wye.

This was quickly made ready, and on 1 May 1874 the 59 chain section from May Hill to the Coleford, Monmouth, Usk and Pontypool Railway station at Troy was opened for traffic.

In the Edwardian period there was considerable tourist traffic in the area, in many cases operated by special excursion trains.

One of these was the Ross and Monmouth Railway, which was a financial company only: the GWR already operated the line as part of its own network, paying the R&MR a lease charge.

A Ministry of Food depot at May Hill continued to be accessible by goods train from Troy, until that section closed on 6 January 1964.

There was a private siding at Lydbrook Junction and this sustained the section from Ross-on-Wye (and Grange Court), including the provision of public goods stations at Lydbrook Junction (closed 2 November 1964) and Kerne Bridge (closed 10 August 1964).

The private siding closed on 1 November 1965, and that was the end of rail services on the former Ross and Monmouth Railway.