Chartered Jan. 16, 1916, by Midland Farms Co., which was owned by David Fasken of Toronto, Canada. The 65 miles of road were completed from Midland to Seminole in 1918. Operated with an engine borrowed from Texas and Pacific Railway until 1920, when its operations ceased.
Fasken purchased the C Ranch in 1912 from estate of Chicago meat packer Nelson Morris. Used part of land for track right-of-way. Developed railroad to ship cattle to markets and encourage settlement. Town of Fasken at peak had one-story depot, hotel, general store, two dwelling houses, schoolhouse and stock pens.
The standard gauge line had one passenger coach, two flatcars, a mail and express car. Had trouble keeping on schedule because equipment was old and needed repairs constantly. Fireman and engineer shot coyotes en route to break monotony. In 1920, M.&N.W. went into receivership, and was sold to T.&P. after flash floods floated crossties away from roadbed.
After approval by the Texas Railroad Commission, M.&N.W. was abandoned in 1923. Line was without prospects of increasing tonnage, was not prudently located, and would have lost money if operated.