Incorporated on 5th May 1837.
A 20 mile line between the towns, extending the route of the North Union Railway to Lancaster. It opened in 1840 and amalgamated with the Lancaster and Carlisle Railway in 1849 extending its route north, and passed to the London and North Western Railway in 1879.
Capital £460,000 divided into 5,000 Whole Shares of £50 each; 5,000 Three-quarter Shares of £37.10s each; 8,333 Quarter Shares, and 10,833 Twelfth Shares. Loans of 113,000. New shares created in 1853 to capitalise debenture debt.