On October 24, 1929, Vanderbilt gave the opening address at the dedication ceremony where a radio link was set up with Washington, D.C.. The $5,000,000 bridge was opened to traffic and, five days later, the Wall Street Crash of 1929 occurred. It was owned by the Mount Hope Bridge Company as a private toll bridge, with the initial toll costing 60 cents one way, and $1 for a round-trip. By 1931, the Bridge company went bankrupt, and prominent local brewer Rudolf F. Haffenreffer acquired the bridge in receivership.