In the grouping of railways in 1923 the LSWR became part of the Southern Railway, which in turn was nationalised along with the rest of the railway network in 1948 and incorporated into British Railways.
The LSWR became part of the Southern Railway. This was in the grouping of railways in 1923. The Southern Railway in turn was nationalised along with the rest of the railway network in 1948. The Southern Railway in turn was incorporated into British Railways.