The Buckfield Branch Railroad was chartered in 1847 to build a railroad to Buckfield from Mechanic Falls on the Grand Trunk Railway. The railway was completed to Buckfield in 1849 and reorganized as the Portland and Oxford Central Railroad in 1857. It was extended to Canton in 1870 and reorganized as the Rumford Falls and Buckfield Railroad in 1874.
The railway went into receivership in 1878 and was converted to standard gauge. It was reorganized by Hugh J. Chisholm (who has signed this piece as the company President) in 1890 as the Portland and Rumford Falls Railway. It was then extended north to Rumford Falls in 1892 and south to connect with the Maine Central Railroad at Rumford Junction near Auburn in 1893.
A branch line was completed from Canton to Chisholm in 1897 and extended to a connection with the former Androscoggin Railroad at Livermore Falls in 1899.
The Portland and Rumford Falls Railway chartered a subsidiary Rumford Falls and Rangeley Lakes Railroad in 1894 to access aboriginal forests north of Rumford. The Rumford Falls and Rangeley lakes reached Oquossoc in 1902. The Maine Central leased the entire line from Rumford Junction to Oquossoc in 1907, and extended it to Kennebago. This line became known as the Rangeley branch when formally merged into the Maine Central in 1914. The branch from Canton to Livermore Falls was designated the Livermore Falls branch.