The Marshall, Elysian Fields and Southeastern Railway Company was chartered on August 28, 1922, to acquire and operate that portion of railroad formerly owned by the Marshall and East Texas Railway Company between Marshall and Elysian Fields in Harrison County. Capital stock was $30,000, and the principal business was in Marshall. Members of the first board of directors were M. Turney, W. L. Barry, W. L. Pitts, and T. L. Whaley, all of Marshall; and J. B. Furrh, W. K. Furrh, and B. H. Timmons, all of Elysian Fields. The property was acquired at a foreclosure sale August 1, 1922, and the MEF&S began operating in intrastate commerce on September 1. Interstate Commerce Commission approval to engage in interstate commerce was obtained on February 2, 1924. The owners of the MEF&S bought the line with the hope of selling it to a larger carrier and thus obtain another rail connection for Marshall. However, they were not successful in disposing of the MEF&S in this manner and attempted to extend the line to achieve their goal. In 1924 ICC authority was obtained to construct a line ten miles in length in a northeasterly direction from Elysian Fields to Lorraine on the Texas-Louisiana state line, where connections could be made with tracks of the Louisiana Railway and Navigation Company of Texas and the Vicksburg, Shreveport and Pacific Railway Company. The extension was not built, and in 1926 the MEF&S received permission to abandon its entire railroad. This authority was not exercised until 1940 when the MEF&S abandoned all but the 1½ miles of track between Marshall and Cary's Spur. The final segment was abandoned and removed in 1945. In 1926 the line owned six engines, which primarily consisted of trucks with flanged wheels, and twenty-one cars. Passenger earnings that year were $1,000 and freight earnings $13,000.