An elastic rail bearing for railroad rails includes a top plate, a bottom plate, and a rubber plate disposed inbetween the top and bottom plates, the plates each having a plurality of holes formed therethrough with the holes of one plate being in registered alignment with the holes of the other plates. One or more bolts are provided, each of which is surrounded by a rubber ring with each of the bolts passing through one of the aligned set of holes in the top, bottom and rubber plates and engaging a nut such that an adjustable and variable initial stress may be established in the rail. At least one of the rubber plates, and the top and bottom plates, have a protrusion and the other has a corresponding recess for receiving the protrusion. The top and bottom plates each have a vertical flange which are spaced apart from, extend parallel to, and partially overlap each other. A connecting rubber strip is disposed inbetween the flanges.