In 1827, the Old Town Bridge Corporation was incorporated and chartered to build and maintain a bridge over the Penobscot River near Old Town, Maine. The bridge was built to connect Marsh Island with Milford, Maine, and to take "specified rates of toll, which the legislature reserved the right to revise and change" after ten years (Atlantic Reporter 949). Through an additional act in 1828, the right to change the toll rates was extended to forty years, "provided that at the end of said term [the bridge would] revert to the state" (Atlantic Reporter 949). Sometime in the fall of 1831 or winter of 1832, the bridge was completed and opened for use. The bridge consisted of two structures—one part extending from half a mile below Old Town Falls to Marsh Island, and the other part extending from the island over the eastern channel to Milford. In March 1846, the part extending from the island to Milford was washed away by a freshet. The bridge was rebuilt and opened by October 1, 1846 this time closer to Old Town Falls. Following the destruction of the bridge in March 1846, a charter was given to the Old Town and Milford Bridge Company to build a replacement bridge over the Old Town Falls, if Old Town Bridge Corporation did not complete the work as scheduled. Old Town Bridge Corporation did build the replacement bridge on time; however, a lawsuit followed in which it was alleged that the bridge was built in the wrong place, which would void the Corporation's original charter (Atlantic Reporter 949). In 1871, the original charter that gave the Corporation the right to collect tolls and have possession of the bridge expired, but the Corporation continued to maintain possession of the bridge and collect tolls. However, in 1887 the Corporation increased the tolls dramatically, causing the public to appeal to the Attorney General. The Supreme Judicial Court at Bangor voted in favor of the people, but the Corporation appealed the decision (Statement of Facts). On March 26, 1907, an act was approved that reverted ownership of the Old Town bridge from the Corporation to the state of Maine (Acts and Resolves 710).

Benjamin Fiske was the president for many years. John Winn was the treasurer from 1846 until about 1857. Following him, James N. Chandler became treasurer from about 1858 until 1894.