Unable to keep his promises to shareholders, Robert Ralph Young suspends dividends on New York Central stock, a factor in his subsequent suicide on January 25.
Last steam locomotive operated by Nederlandse Spoorwegen.
January 1 – The Chicago and North Western Railway acquires the Litchfield and Madison Railway.
February 4 – Canada's Kellog Commission releases a report on the use of firemen as part of diesel locomotive crews.
February – The Alaska Railroad sells six ex-USATC S160 Class 2-8-0 locomotives to the standard gauge Ferrocarril de Langreo in northern Spain, where they are used on a new diversion built to avoid a cable railway. This will be the third Transatlantic crossing for #3410.
March 13 – Queensland Railways BB18¼ class 4-6-2 No. 1089, completed by Walkers, Maryborough, Queensland, is the last main-line steam locomotive built in Australia.
April 26 – Last day of regularly scheduled passenger service on the Maine Central Railroad Mountain Division.
June 22 – The CTA Congress Branch opens for service in the median of the Eisenhower Expressway, pioneering the first use of rail rapid transit and a multi-lane automobile expressway in the same grade-separated right-of-way. It replaced the 1895-built Garfield Park 'L' route and alignment from Des Plaines Avenue, Forest Park to the Loop.
June 25 – The Pennsylvania Railroad discontinues the Afternoon Steeler passenger train between Pittsburgh and Cleveland.
July – General Motors Electro-Motive Division introduces the EMD SD24.
July 7 – The Hudson and Manhattan Railroad reintroduces women-only cars on the railroad's commuter trains in New York City.
July 17 – The Railway Enthusiasts Society is formed to promote rail transportation and preservation in New Zealand
July 25 – Pacific Great Eastern Railway completes construction of the line to Fort St. John, British Columbia.
August 9 – The Moccasin, the longest running named passenger train in Canada thus far, is discontinued.
September – On the Drachenfels Railway, Königswinter, Germany, a rack railway train derails, killing 17.
September 15 – A Central Railroad of New Jersey commuter train plunges off the Newark Bay Bridge while raised for water traffic, killing 48.
October – After building only 59 examples of the type, Fairbanks-Morse and Canadian Locomotive Company discontinue construction of the H-24-66 model Train Master diesel locomotive.
October 1 – Northern Ireland's Ulster Transport Authority and the Republic of Ireland's Córas Iompair Éireann take over from the Great Northern Railway Board in running the remaining cross-border route (Dublin–Belfast) of the Irish railway system. The GNR assets are split between the two state companies.
November 1 – The Strasburg Rail Road is purchased by a non-profit group.
December 31 – The Harcourt Street railway line between Dublin and Bray, Ireland, closes.
South African Railways takes delivery of its last steam locomotives for the 3 ft 6 in (1,067 mm) gauge, GMAM class Garratts.
Last Garratt steam locomotive to be built in Manchester by Beyer, Peacock and Company is delivered as South African Railways NGG16 class no. 143 (2 ft (610 mm) gauge).
SNCF electrifies its Paris–Lille line in France.
Ernest S. Marsh succeeds Fred Gurley as president of the Atchison, Topeka and Santa Fe Railway.
January 25 – Robert Ralph Young, financier and controlling stockholder of the New York Central commits suicide after suspending company dividends (born 1897)
1958 in rail transport Wikipedia
This article lists events related to rail transport that occurred in 1958.