The first private toll-bridge company in the US, the Charles-River Bridge, opened in 1786 was called "the greatest effect of private enterprise in the United States." Its investors were rewarded with a return of 10.5 percent annually for the first six years. Through 1798, about 59 bridge companies were chartered in the states under consideration, principally in New England. Many of them failed and some were unprofitable, but a considerable number, especially in the Boston area, had proven themselves lucrative by the end of the century. In contrast to the turnpikes, the bridges did not suffer from toll evasion and liberal exemptions, and when profits were low they commonly obtained toll increases.[