The railroad company was chartered September 21, 1895, as successor to the Toledo, Ann Arbor and North Michigan Railway. In 1905, it was acquired by the Detroit, Toledo & Ironton Railway (DTI) and Eugene Zimmerman assumed presidency of both lines. DTI went bankrupt three years later. Zimmerman remained president until 1909 when he lost control of the line to Joseph Ramsey, Jr. and Newman Erb. Ramsey assumed the presidency, serving until 1913 when Erb became president and ran the line for the next eleven years. Erb also served as president of the Minneapolis and St. Louis Railway 1912 to 1916.