The Roscoe O&W Railway Museum was established under the charter of the Ontario & Western Railway Historical Society in 1984 and was first housed in a former Erie Railroad caboose. The first O&W Railway festival was held in August of that year and has become an annual event. In 1986 the museum board members approved the purchase of the Wood garage for the purpose of expansion. A new corporation, the Roscoe NYO&W Railway Association was formed to purchase, operate, and maintain the museum.
During renovation of the building, siding, slate and wood shingles from the abandoned O&W Summitville Station were used to create an O&W facade. Additional siding and wainscoating line the entrance way to the ticket window and station master's office, which has an operating telegraph.
In 1998 the Board Members of the O&W Railway Historical Society requested that the museum board apply for its own museum Charter. The Society assisted in the application process and will continue to support us and work together. In 2000, the University of the State of New York sent a new charter for the Roscoe O&W Railway Museum. All assets of the Association were transferred to the museum and the Society also transferred ownership of the Erie caboose.
The museum complex consists of the O&W refurbished caboose on the site of the Roscoe Station, the original trout weather vane and train signal, the Cooks Falls and Roscoe watchman's shanties, The Beaverkill Trout Car and the O&W station motif building. The museum now contains O&W artifacts and memorabilia, other railroadiana, and local history displays showing the impact of the O&W on community life, hunting, fishing, farming, tourism and local industries.