For a brief moment at the start of the 1900s, it seemed believable that the town of Parsons Vale (population 1030) was poised on the brink of greatness. After all, the PV&T had connected the town to Portland and Montréal, and the Ace and Acme Lumber Company had just been purchased by the Lincoln and Concord Railway to connect Parsons Vale and the rich lumberlands at the foot of the White Mountains to its Lincoln to Concord mainline. With these signs of greatness, a proposal to connect Parsons Vale to Concord by a direct interurban railway seemed like a sure bet. So, in 1909, the Parsons Vale Rapid Transit Company was formed to build an electric interurban railroad from Parsons Vale to Concord. Construction started soon thereafter, and the line was completed and saw its first passenger train in 1911.

As all of the other railroads into Parsons Vale discovered, there was not gold to be made in passengers. But, unlike the unfortunate L&C, the PVRT strengthened itself by courting online businesses and inking through traffic agreements with the PV&T, and, barring a few money-losing years during the great depression, settled into a steady profitable life.

When the LW&C was abandoned in 1936, the PRVT picked up three steeplecab locomotives, but otherwise didn't change its initial locomotive roster until 1947, when it dealt with the damages caused by second world war traffic by converting the Parsons Vale to Concord mainline from 600VDC to 3000VDC. After this conversion, all PV&T bridge traffic was carried behind PV&T locomotives, while local traffic was carried behind engines 1018 and 980 (ex LW&C 21,22) which had been converted to 3000VDC. The Laconia branch was left at 600VDC, and engine 1040 was used to switch this branch until it was abandoned in 1961.

After the war, local traffic was never extraordinarily healthy, and kept falling off to the point where, in 1955, only 1018 and 1040 were needed (980 was kept in reserve, but never saw service on the PVRT again.) In 1960, the Laconia branch lost its last customer. In 1964, 1018 was destroyed when the Merrimack river bridge collapsed under a gravel train, and by the time the span was replaced the remaining on-line shippers had converted to trucks. Since the PVRT wasn't running any trains anymore, the management leased the railroad to the Parsons Vale Line for 1000 years, then retired to the Carribean.