-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 FRIDVBBanjYghMNELWkkixNPhVN2GiXMS6ekENUmLfSHOWr1YiofV0KCcOzF1Yui
 O3Xj9GhcVmCmfBaQgnBFtA==

<SEC-DOCUMENT>0000831968-04-000095.txt : 20041108
<SEC-HEADER>0000831968-04-000095.hdr.sgml : 20041108
<ACCEPTANCE-DATETIME>20041108145159
ACCESSION NUMBER:		0000831968-04-000095
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041108
FILED AS OF DATE:		20041108
DATE AS OF CHANGE:		20041108

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:		041125390

	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>form4rje20041108_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-11-08</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 Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2004-11-08</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2004-11-08</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>203</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3372</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>7.00</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-11-08</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2004-11-08</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>203</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>1995-07-03</value>
            </exerciseDate>
            <expirationDate>
                <value>2005-01-03</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>203</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>2004-11-08</signatureDate>
    </ownerSignature>
</ownershipDocument>

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