The 10-mile line from Monroe to Social Circle, built in 1880,
was operated by the Georgia Railroad, which had provided $42,500 for its construction.
Soon after the Walton opened, Central of Georgia president William M. Wadley acquired a majority of its stock.
He also obtained control of the Gainesville Jefferson and Southern Railroad, which ran north from Monroe, as well as a lease of the Georgia
In 1884, Wadleys successors consolidated the GJ&S and the Walton,
but in 1897 the combined operation entered receivership and in
1904 was sold. Most of the railroad was sold to Savannah investors
who reorganized it as the Gainesville Midland Railway. The former Walton was sold separately to Jacob Phinizy who incorporated
it as the Monroe Railroad.