The company was eventually acquired by the Penn Central Transportation Company, successor to the New York Central, and was abandoned in 1976 when Conrail was formed. Penn Central later used the company to own real estate from abandoned rail lines, and it remains as a subsidiary of American Premier Underwriters, successor to Penn Central.
Owasco River (also known as Owasco Creek, Owasco Lake Outlet, and Owasco Outlet) is a river in Cayuga County, New York, United States. The Owasco River Railway is named after the river.