 In 1873 the privately owned Albert Bridge, between Chelsea and Battersea bridges, opened. Although Albert Bridge was not as successful as intended at luring customers from Chelsea Bridge and soon found itself in serious financial difficulties, it nonetheless caused a sharp drop in usage of Chelsea Bridge. In 1877 the Metropolis Toll Bridges Act was passed, which allowed the Metropolitan Board of Works (MBW) to buy all London bridges between Hammersmith and Waterloo bridges and free them from tolls. Ownership of Chelsea Bridge was transferred to the MBW in 1877 at a cost of £ 75,000 (about £ 5.99 million in 2016), and on 24 May 1879 Chelsea Bridge, Battersea Bridge and Albert Bridge were declared toll free by the Prince of Wales in a brief ceremony, after which a parade of Chelsea Pensioners marched across the bridge to Battersea Park.
