Largely financed by the citizens and town, Cobourg's railway to Peterborough was chartered 1852 and opened 1854. Like many others of this period, it suffered from excessive optimism, land speculation and faulty engineering. Ice made the 5 km long Rice Lake bridge unsafe and finally destroyed it 1860-61, ending use of the northern section. Reorganized in 1866, the remaining part carried considerable iron ore from Marmara. The line was acquired by the Grand Trunk in 1893 and closed 1898.