1848 Australia

Australia's first railway company, the Sydney Railway Company, was founded in 1848. It proved ruinous for its founders. Shortly before the opening of the first line, it was taken over by the New South Wales Government Railways. In 1852 eight privately financed railways were planned in Victoria. Three of them were established but only one of them was a success -- The Melbourne and Hobson's Railway Company which was opened in September 1854.