The Verkhne-Volzhskaya railway was to connect the cities of Kashin, Kalyazin, Rybinsk, and Uglich both with each other and with the Moscow-Savyolovo branch, which was completed in 1900.

This made it possible to significantly speed up the delivery of cargo to Moscow from the Volga as at that time the transportation of goods was carried out on slow-moving punts.

[2] The construction of the Verkhne-Volzhskaya railway, the main branches of which were located and projected to the north-northwest of Moscow, in the present dayTver, Yaroslavl, and Vladimir regions, as well as the work of the joint stock company to create it.

To obtain permission to establish a joint-stock company, they required the consent of the supreme authority or bodies of subordinate management, as well as the Minister of Finance.

Owners of shares were provided with a solid dividend not from the moment of putting the line into operation, but from the day of the organization of the joint-stock company.

[3] The founders of the Verkhne-Volzhskaya Railroad Society were the entrepreneur & railway pioneer Nikolai Vasilievich Belyaev (1859-1920), the honorary citizen of Pereslavl Zalessky Leonid Pavlov (1870-1917), the railway engineer Fedor Nikolayevich Mamontov, the nobleman Nikolai Mitrofanovich Andreev,[6] the personal honorary citizen Ivan Orestovich Kurlyukov and the major-general Anatoly Anatolyevich Reinboth (1868-1918).

[7] The total cost of the project, including the rolling stock, as well as the working capital of the company, was to be 21 million 620 thousand rubles.

The opening of this section closed the reserve route from Moscow to St. Petersburg, passing through Kalyazin, Ovinische, Khvoynaya, Mga.

However, in connection with the same difficult financial situation in the country, the construction of the Savyolovsky radius from Kalyazin through Uglich to Rybinsk (designed in pre-revolution Russia) never began.

In a short time, the Kalyazin-Uglich branch (48 km), opened for traffic in 1937, was finally completed based on the project plans of the Upper Volga Railroad Society.