The Maritime History of the Great Lakes
Quebec (Propeller), 13 Nov 1885

Full Text

The Detroit Tug & Transit Company has been forced to the wall and Francis Russell has been appointed Receiver. The total libels against the craft owned by this company, of which S.A. Murphy is President and principal stockholder, amounts to $19,067.37. The total liabilities of the company are variously estimated at from $50,000 to $75,000. The failure is mainly to be attributed to the stagnation in marine matters during the past season and also to a large expense entailed in raising the steamer QUEBEC, which absorbed Mr. Murphy's ready cash and prevented him from paying his bills as they became due. The assets of the company comprive five tugs, four schooners and a barge, and the most complete wrecking outfit on the lakes, besides the insurance on the burned tug KATE MOFFAT and the amount Murphy is to receive for raising the QUEBEC. It would be difficult to place a value on the property, as there is no market for it at present, and it would bring much less than its real value if sold under the hammer.
      Saginaw Courier-Herald
      Friday, November 13, 1885

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side effect of salvage
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William R. McNeil
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Maritime History of the Great Lakes
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Quebec (Propeller), 13 Nov 1885