The RRs still own a lot of land, however, most if not all of the railroad land grant lands that contained timber worth logging was sold off many years ago. Just off the top of my head Weyerhaeuser was one of the largest buyers. There are other large companies that also bought large amounts of RR timber lands, but my memory is not clicking right now.
I have a few off the top, Crown Zellerbach - now ? Pope & Talbot Boise Cascade Georgia Pacific Louisiana Pacific I knew the owner of Georgia Pacific but I didn't know who the hell he was, he was just Mr. Johnson. He had a big ass Sailboat, the Ticonderoga. Big Ti she was called in that day, owned by Robert F. Johnson. He had and office on Broadway near where it starts up the hill. They did no apparent business in that office, but unknown to me at the time, he had another bunch of offices down town on 6th avenue, the Georgia Pacific building. Head quarters was in Portland then.
The biggest groups in southern Oregon are still the Ford Foundation who own Roseburg Forest Products and the Swanson Group who own a bunch of places around Glendale. I worked for both of them. RFP was a much better place to work for because they had a union. Superior Lumber, owned by the Swanson Group has no union and fucked their employees over every chance they got. They also forced us to come in for an unpaid meeting where they told us that if didn't vote for George W Bush we would all lose our jobs. They made sure they kept their language "legal", but also made sure they aimed their sword at us if we wanted to keep our jobs. Great company......