The first steam powered railway in Australia opened by the Melbourne and Hobson’s Bay Railway Company in 1854, running 2.5 miles between Flinders St Station (pictured) and Melbourne’s port at Sandridge.
The company had been formed in August 1852. It was initially capitalized at £100,000; issuing 2000 shares £50 each. £50 is the equivalent in purchasing power to about £8,127.82 today, or $15,000 today. The railway was an instant financial success, as its fares were high and the route popular. The journey took about 10 minutes with two trains running every half hour.
For more on this fascinating piece of history, including more photographs, download our latest article: The First Steam Powered Railway in Australia
This rail line runs through our base of operation in South Melbourne, for more on the evolution of the area see: /2022/06/15/the-evolution-of-south-melbourne/
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