the canal was opened from the river witham northwards, as each section became available. tolls of £250 were collected in 1795, but the company was experiencing financial difficulties. the decision was taken to build a wharf at dalderby, and to terminate the canal there. all of the original capital, together with the £10,000 mortgage on tolls had been spent by early 1797, and there was no immediate prospect of continuing. the engineer john rennie was consulted, and he suggested that a new cut from dalderby to horncastle would be better than trying to follow the winding course of the river bain. accordingly, a new act of parliament was obtained on 9 july 1800, authorising the raising of a further £20,000, but very little money was attracted to the scheme, and the company eventually borrowed £20,600 from lord fortescue and sir joseph, mortgaged against the tolls of the canal. rennie declined to oversee the work, and so william walker was appointed, although he was not a qualified engineer. the canal was finally opened throughout in 1802, having cost nearly four times the original estimate. the cost included £1,165 which was part of the cost for the work carried out at high bridge, lincoln in 1797