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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LCx6GLmNMtcVhAQts9BpOa7q1n/R9qMoyJEFDlDz3kSFeRzWwoGjPmM9uhHyysVv
 hMsJRfnY2Gq6PPRvBqx/sQ==

<SEC-DOCUMENT>0000831968-03-000129.txt : 20031202
<SEC-HEADER>0000831968-03-000129.hdr.sgml : 20031202
<ACCEPTANCE-DATETIME>20031202152939
ACCESSION NUMBER:		0000831968-03-000129
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031202
FILED AS OF DATE:		20031202

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			EASTON ROBERT J
		CENTRAL INDEX KEY:			0001195185

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12761
		FILM NUMBER:		031032571

	MAIL ADDRESS:	
		STREET 1:		75 HAMMOND STREET
		CITY:			WORCESTER
		STATE:			MA
		ZIP:			01610

	FORMER NAME:	
		FORMER CONFORMED NAME:	EASTON ROBERT J/
		DATE OF NAME CHANGE:	20021001

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PROVIDENCE & WORCESTER RAILROAD CO/RI/
		CENTRAL INDEX KEY:			0000831968
		STANDARD INDUSTRIAL CLASSIFICATION:	RAILROADS, LINE-HAUL OPERATING [4011]
		IRS NUMBER:				050344399
		STATE OF INCORPORATION:			RI
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		75 HAMMOND ST
		CITY:			WORCESTER
		STATE:			MA
		ZIP:			01610
		BUSINESS PHONE:		5087554000

	MAIL ADDRESS:	
		STREET 1:		PROVIDENCE & WORCESTER RAILROAD CO
		STREET 2:		75 HAMMOND STREET
		CITY:			WORCESTER
		STATE:			MA
		ZIP:			01610
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4rje20031202_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-12-02</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000831968</issuerCik>
        <issuerName>PROVIDENCE &amp; WORCESTER RAILROAD CO/RI/</issuerName>
        <issuerTradingSymbol>pwx</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001195185</rptOwnerCik>
            <rptOwnerName>EASTON ROBERT J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>75 HAMMOND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WORCESTER</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01610</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>Treasurer</officerTitle>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common</value>
      </securityTitle>
      <transactionDate>
         <value>2003-12-02</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-12-02</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>244</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>7.50</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>2854</value>
            <footnoteId id="F1"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Right to Buy Employee Stock Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>7.50</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-12-02</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-12-02</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>244</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>7.50</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>1994-07-02</value>
      </exerciseDate>
      <expirationDate>
         <value>2004-01-02</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>244</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>0</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> Owns additional 118 common shares indirectly through wife</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Robert J. Easton</signatureName>
      <signatureDate>2003-12-02</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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