SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13D

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(AMENDMENT NO. 1)

Providence and Worcester Railroad Company

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(Name of Issuer)

Common Stock

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(Title of Class of Securities)

743737108

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(CUSIP Number)

Margaret D. Farrell, 50 Kennedy Plaza, Suite 1500

Providence, RI 02903 (401) 274-2000

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(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

February 2, 2007

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(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. [ ]

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise

Schedule 13D (Amendment No. 1)

subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP NO. 140430 10 9

i.

(1) Names of Reporting Persons

I.R.S. Identification Nos. of Above Persons (entities only)

Stephen J. Carlotti

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(2) Check the Appropriate Box if a Member of a Group* (a) [ ]

(b) x

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(3) SEC Use Only

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(4) Source of Funds (See Instructions)

OO

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(5) Check if Disclosure of Legal Proceedings is Required

Pursuant to Items 2(d) or 2(e) [ ]

Not Applicable

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(6) Citizenship or Place of Organization

United States of America

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(7) Sole Voting Power

Number of 0

Shares ------------------------------------------------------------------------------------------

Beneficially (8) Shared Voting Power

Owned by 0

Each ------------------------------------------------------------------------------------------

Reporting (9) Sole Dispositive Power

Person With 0

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(10) Shared Dispositive Power

0

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(11) Aggregate Amount Beneficially Owned by Each Reporting Person

0

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(12) Check Box if Aggregate Amount in Row (11) Excludes Certain

Shares (See Instructions) [ ]

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Schedule 13D (Amendment No. 1)

ii.

(1) Names of Reporting Persons

I.R.S. Identification Nos. of Above Persons (entities only)

Robert H. Eder 2005 Trust

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(2) Check the Appropriate Box if a Member of a Group* (a) [ ]

(b) x

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(3) SEC Use Only

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(4) Source of Funds (See Instructions)

OO

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(5) Check if Disclosure of Legal Proceedings is Required

Pursuant to Items 2(d) or 2(e) [ ]

Not Applicable

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(6) Citizenship or Place of Organization

United States of America

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(8) Sole Voting Power

Number of 0

Shares ------------------------------------------------------------------------------------------

Beneficially (8) Shared Voting Power

Owned by 0

Each ------------------------------------------------------------------------------------------

Reporting (9) Sole Dispositive Power

Person With 0

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(11) Shared Dispositive Power

0

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(11) Aggregate Amount Beneficially Owned by Each Reporting Person

0

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(12) Check Box if Aggregate Amount in Row (11) Excludes Certain

Shares (See Instructions) [ ]

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Schedule 13D (Amendment No. 1)

ITEM 1. SECURITY AND ISSUER.

Common Stock, $.50 par value per share (“Common Stock”). Providence and Worcester Railroad Company, 75 Hammond Street, Worcester, MA 01610.

ITEM 2. IDENTITY AND BACKGROUND.

(a) (i) Stephen J. Carlotti

(ii) Robert H. Eder 2005 Trust

(b) (i), (ii) c/o Hinckley, Allen & Snyder, LLP

50 Kennedy Plaza, Suite 1500

Providence, Rhode Island 02903

(c) (i) Partner, Hinckley, Allen & Snyder LLP

50 Kennedy Plaza, Suite 1500

Providence, Rhode Island 02903

(ii) Trust

(d) (i), (ii) None

(e) (i), (ii) None

(f) (i), (ii) United States of America

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

ITEM 4. PURPOSE OF TRANSACTION.

Mr. Carlotti, as trustee of the Robert H. Eder 2005 Trust, has reported ownership of greater than 10% of the outstanding securities of the issuer. As of February 2, 2007, the aforementioned trust was terminated and the securities of the issuer held by that trust were transferred back to Mr. Eder.

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.

(a) (i) The aggregate number of securities identified pursuant to Item 1 beneficially owned by Mr. Carlotti is 0.

(ii) The aggregate number of securities identified pursuant to Item 1 beneficially owned by the Robert H. Eder 2005 Trust is 0.

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Schedule 13D (Amendment No. 1)

(b) (i) The number of shares as to which Mr. Carlotti has sole power to vote or to direct the vote is 0; the number of shares as to which there is shared power to vote or to direct the vote is 0; the number of shares as to which there is sole power to dispose or to direct the disposition is 0; the number of shares as to which there is shared power to dispose or direct the disposition is 0.

(ii) The number of shares as to which the Robert H. Eder 2005 Trust has sole power to vote or to direct the vote is 0; the number of shares as to which there is shared power to vote or to direct the vote is 0; the number of shares as to which there is sole power to dispose or to direct the disposition is 0; the number of shares as to which there is shared power to dispose or direct the disposition is 0.

(c) (i), (ii) None

(d) (i), (ii) Not applicable.

(e) (i), (ii) Not applicable.

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.

Mr. Carlotti serves as trustee of the Robert H. Eder 2005 Trust pursuant to a trust agreement.

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.

5

Schedule 13D (Amendment No. 1)

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 2, 2007 /s/ Stephen J. Carlotti

___________________________________

Stephen J. Carlotti

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 2, 2007 Robert H. Eder 2005 Trust

By: /s/ Stephen J. Carlotti

__________________________________

Name: Stephen J. Carlotti

Title: Trustee

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