At top, the letters appear to be E?SK CH.O. The letter before the E could be a V, K, or ZH. That after the E looks a bit like another E, but could be a V. Izhevsk may fit.
Another issue might be that Izhevsk may not yet have been on any railroad in 1875. Then you are looking at a Russian town on a railway east west from Moscow with a name ending in 'KYEVSK'
Or 'EVSK, like Guryevsk. That would be on a line between Königsberg and Riga. Problem is that I do not see 'PbEBCK.'
RZHEV would fit the top name, as the adjective would be RZHEVSK. And it lies on the (current) Moscow to Riga railway line. So Moscow - Riga Rail Road could be at the bottom. The latter part seems to be there.
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