For example on this forum you mostly use the word railway and not the American word railroad I wish I knew the reason for and if there is a difference of meaning between them.
It was often the case that as rail transport companies went bankrupt, re-incorporated, etc, they used names ever so slightly different. For example, the WW&F was first known officially as the Wiscasset, Waterville & Farmington Rail
road Company, from 1901 until 1907. It was reorganized in 1907 to the Wiscasset, Waterville & Farmington Rail
way Company.
Even more subtle are the iterations of the WW&F's predecessor, the W&Q. From 1876 to 1900 it was known as the Wiscasset & Quebec Railroad Company. In 1900 the word "company" was dropped from the name, leaving just Wiscasset & Quebec Railroad. This entity was not properly dissolved in 1901 with the advent of the WW&F, and this is the same corporate entity that Harry Percival revived in the 1980's.
As to WHY all these variations on a name, I suspect there was a desire to maintain the corporate brand, but perhaps there were legal reasons why the name had to change in the small ways as it did. Someone better versed in corporate law could comment further.