Etymology
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railway (n.)

1812 in the modern sense, from rail (n.1) + way (n.). Also compare railroad (n.). Earlier used of any sort of road on which rails (originally wooden) were laid for easier transport (1776).

Rude railway-trains, with all your noise and smoke,
I love to see you wheresoe'er ye move :
Though Nature seems such trespass to reprove :
Though ye the soul of old romance provoke,
I thank you, that from misery ye unyoke
Thousands of panting horses.
[Richard Howitt, from "Railway Sonnets," Hood's Magazine, March 1845]

Railway time "standard time adopted throughout a railway system" is by 1847.

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Definitions of railway

railway (n.)
line that is the commercial organization responsible for operating a system of transportation for trains that pull passengers or freight;
Synonyms: railroad / railroad line / railway line / railway system
railway (n.)
a line of track providing a runway for wheels;
Synonyms: railroad track / railroad
From wordnet.princeton.edu