On February 24, 1978, at 2:55 p.m., two days after twenty-four cars of the L&N railroad derailed, a tanker containing 20,000 gallons of propane gas exploded in Waverly. The destruction of homes and businesses was overshadowed by the loss of sixteen lives and permanent injury to eighty people. The dedication of those who came to assist the city of Waverly and gave their lives as a result of the disaster endures in memory.