These buttons, small and medium of the matching design, are “souvenir” issues commissioned by the Oregon Electric Railway Historical Society (OERHS website). The Society’s mission is “to preserve the regional heritage of electric railway transportation as a living resource for the benefit of the present and future generations.” These new buttons were made by the Waterbury Button Company (company website) using its archived original dies.
Oregon Electric Railway was incorporated in 1906 to connect cities south of Portland on the west bank of the Willamette River. In 1910, it became part of the Spokane, Portland & Seattle (SP&S) Railway (Wikipedia). A final branch line between Albany and Corvallis went into service on March 25, 1913, but its passenger service ceased in 1933, according to Richard Thompson, the Oregon Encyclopedia.
6 different button designs are known to exist, according to Don VanCourt’s research.