The European and North American Railway was extended to link Pointe-du-Chene to Moncton in 1857, with an eventual goal of reaching Saint John in 1860. The move, according to Larracey, caused the town to become "but a station stop along a railway line". This coincided with the failure of Moncton's shipbuilding industry and a population drop from a peak of 2,000 to about 500. The town declared bankruptcy and was unincorporated in 1862, but it later regained its status in 1875, after it became the Intercolonial Railway's headquarters for its shops in 1871. While the Petitcodiac River continued to aid in the shipping of goods into the 20th century, shipbuilding essentially ended in the 1890s. The final vessel built in Moncton was the "Woolastook II" on 14 May 1980, while the final ship to sail up the Petitcodiac River was the "Inox" from France, which arrived on 12 July 1986, (and was, ironically, stranded in Moncton until 3 November due to the river's tidal fluctuations).