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This article uses newly discovered evidence from the end of the life of the Surrey Iron Railway to reconstruct the company's financial history. This evidence also provides the date of the opening of the line and new information about its users and its closure. One of the conclusions is that the railway was reasonably successful at first, until the Croydon Canal took much of its traffic. Thereafter it could pay its way but was not able to contemplate improvements or, eventually, to maintain the track properly.