(copied from British Whig)
p.2 Accident to the William IV - As this noble steamboat was on her passage down the lake on Wednesday morning last, the pilot discovered, owing to the action of a heavy south sea, a breach had been made into the false sides, and thence the water had found its way into the afterpart of the vessel, in sufficient quantity to threaten mischief. This happened early in the morning, between Presque Isle and Long Point. Finding the leak to be serious and gaining ground, the Captain and Pilot took council, and agreed to run the boat ashore at or near Bath; but on rounding Long Point, that intention was found to be impracticable, and, turning the boat's head up South Bay, the William IV was grounded about three miles up the Bay, on the south side, in smooth water, with her bows high out of water, but her stem sunk. As the southern gale had driven several schooners to take refuge in South Bay, one of these, the Malcolm, an American vessel, was soon alongside to render assistance; when the mail bags, the cargo of the William IV, and all the passengers, with the Captain, were transferred to her, and left for Kingston, where she arrived safe on Wednesday night. The conduct of both Captain Jones and the Pilot, Mr. Cowan, were extremely praiseworthy, being cool, cautious and persevering. Attempts were repeatedly made to stop the progress of the leak, by pumping; and it was only to save the lives of the passengers and preserve the vessel, that she was run on shore. There was not the least probability that the William IV would have floated to Kingston, in such weather as that of Wednesday. Captain Jones left town for Prescott, to bring up Alpheus Jones, Esq. Agent for the proprietors who will probably take immediate steps for the raising of the steamboat. It is but a very short time since, that the William IV underwent a thorough repair at the railway at Niagara.
(also in Montreal Gazette, Nov. 3, 1840)