Bankruptcy
The CNoR entered financial difficulty during World War I and the IR&C defaulted on interest payments for its debt on May 1, 1915. The IR&C was placed in receivership under the National Trust Company and continued to operate the coal mines and railway much as before. On June 23, 1919 the Eastern Trust Company took over as receiver.
The IR&C saw the mines spun off by the receivers over the years and the coal loading port at Port Hastings declined in use.
Read more about this topic: Inverness And Richmond Railway
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