The River Waverney was improved for navigation under an Act of Parliament obtained in 1670, which empowered five traders from Bungay and one from Downham Market to carry out the work. This included the construction of three locks, at Geldeston, Ellingham and Wainford, to extend navigation as far as Bungay Staithe. The navigation remained in private hands, and was not under the control of the Yarmouth Commissioners, who were responsible for the lower river. A second Act obtained in 1772 ensured that Suffolk magistrates received a 5 per cent share of all tolls obtained from the carriage of coal, with which to maintain the Waveney. Ownership was in the hands of a merchant from Bungay at the end of the eighteenth century, and was later bought by William Butcher. When St Olave's bridge needed to be rebuilt in 1847, he explained that although he owned it, he had let out the collection of tolls, and such matters were dealt with by the judges at Bury St Edmunds Assizes. In 1848, he attempted to set up the Bungay Navigation Tontine Co., which would buy the rights to levy tolls and trade on the river, using a tontine, but the scheme failed to attract sufficient investors to become viable. In 1889 ownership was transferred to W. D. Walker of Bungay, a merchant and maltster. The firm was the first owner of a wherry called "Albion", now owned by the Norfolk Wherry Trust. From 1919 to 1934, Watney, Combe, Reid and Co. controlled the navigation.