The Maritime History of the Great Lakes
Chicago Board of Trade (Schooner), U4331, sunk, 1 Jul 1874

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The following is taken from the protest made by the Captain of the schr. CHICAGO BOARD OF TRADE. Thomas Fountain Captain of the schr. CHICAGO BOARD OF TRADE loaded with 28,500 bushels of shelled corn, bound for Buffalo, protest that on Tuesday July 28th, 1:30 A.M., while towing in the Detroit River, near Malden, struck hard on the bottom and dragged over the rocks some distance. Tried the pumps but did not make any more water; at 7 :30 A.M., Pt. Pelee bore north distance 1 1/2 miles; wind northeast, fresh breeze with heavy sea. Wednesday 20th 1:30 A.M., calm, heavy sea and vessel rolling and laboring, which continued until 4:00 when we found 3 ft. of water in the well. Called all hands to the pumps and continued them until 8:45 when we took to the boat. The vessel went down at 25 miles distant from Cleveland the bow sinking, stern continuing above water some minutes, when she gradually settled down. Sailed in shore with the boat and arrived at Fairport at 5:00 P.M.
She was built in 18?3, and was thoroughly overhauled and rebuilt 3 or 4 years ago, and was in good condition, and valued at about $30,000. The cargo was worth about $20,000 Insurance on the hull and cargo (so reported) in the Mercantile Mutual Orient and Mercantile and Traders.
      Buffalo Commercial Advertiser
      August 3, 1874 3-5

      . . . . .

      The Wrecking stm. MAGNET left this port yesterday morning, bound for Fairport, to learn as to the position and condition of the schr. BOARD OF TRADE, which foundered off the port last week. The CHICAGO BOARD OF TRADE had a full cargo of grain and lies, it is said, in 10 fathoms of water. - Detroit Post, 4th.
      Buffalo Commercial Advertiser
      August 5, 1874 3-5

The Coast Wrecking Co. has entered into acontract with the Underwriters to raise the CHICAGO BOARD OF TRADE, which it will be remembered went down under rather peculiar circumstances. They will commence work as soon as possible and if successful will receive $10,000 when she is delivered at this port.
      Buffalo Commercial Advertiser
      August 24, 1874 3-5

Schooner BOARD OF TRADE, cargo wheat, sunk and total loss in Lake Erie, July 1874. Loss, hull $19,000 cargo $42,000.
      Casualty List for 1874
      Chicago Inter-Ocean, Dec. 25, 1874

The underwriters, says the Chicago Inter Ocean, have made a proposition to the owners of the bark BOARD OF TRADE, which was alleged to have been sunk to obtain the insurance. They say that those companies involved have offered to pay in full of the owners will give bond to indemnify them in case the hull is got into port, and marks shown. They pay the wrecking company $10,000 to get the hull into Buffalo, the contract being let last season and still holding good. This offer, the underwriters say, is to avoid any trouble now, they claiming that it will be proved that "the vessel was scuttled and sunk intentionally."
      Buffalo Commercial Advertiser
      March 16, 1875 3-5

Says the Milwaukee `Wisconsin' :-Captain Thomas Fountain is wanted by the underwriters. Where is he ?. Up to the time of the recovery of the barque BOARD OF TRADE he had command of the schooner PENSAUKEE. Now that the BOARD OF TRADE is in port, and the cause of her sinking has been discovered, the captain cannot be found. Perhaps Captain McGraw, of Chicago knows. From what we can learn it won't be healthy for Captain Fountain to return to these parts for years. That is invariably the result of rascality...
      Toronto Daily Globe
      Wednesday, August 18, 1875

      . . . . .

The Buffalo `Courier' says:- About 7 o'clock Monday evening the boat BOARD OF TRADE was towed into port by the tugs H. S. SILL and L. P. DAYTON, it having taken the two tugs nearly three hours to bring her up from below the International bridge. She leaked badly, and it required the constant use of two steam pumps to keep her afloat. The vessel went into dry dock at the union shipyards, where she will be critically examined and a conclusion arrived at whether the holes in the water closet pipe were the result of an accident or whether they were made with the intention of sinking the vessel as claimed by the underwriters. From the fact that she leaked so badly it looks as if she sank from some other cause than the holes in the water pipes. If the statement is true that Captain Fountain has disappeared, then the statement that the vessel was sunk by foul play has some confirmation. But the exam ination will probably reveal all.
      Toronto Daily Globe
      Friday, August 20, 1875
      . . . . .
The Milwaukee Sentinel publishes the following:- Captain A. R. Manning, of Cleveland, who discovered the manner in which the BOARD OF TRADE was scuttled, was in the city yesterday. He states that Captain Thomas Fountain, in command of the BOARD OF TRADE when she sunk, has fled from the wrath to come; at least he cannot be found. The Chicago `Inter-Ocean' reproduces with the comment:- The above is given space to for the purpose of informing the public who the individual is that circulated the report to the effect that Captain Fountain had run away. Captain Manning and the insurance people may yet have to prove that they did not make those holes in the water closet pipe themselves.
      Toronto Daily Globe
      Saturday, August 21, 1875

      The BARQUE CHICAGO BOARD OF TRADE. -- The cook of the wrecking Tug RESCUE, which assisted in raising the barque CHICAGO BOARD OF TRAD now comes forward and relates a strange story, according to an exchange. He says that while he was assisting the diver, who was at work in the after part of the ship, the master wrecker Mr. Merriman, ran the bell for the diver to come up from the deck below, and when the latter cane above water, told him to "stop punching the water closet," that" it would do as it was then". The diver had in
his hands a crowbar with which he had been breaking the water clotet pipe of the sunken schooner. The cook claims to have been a party present and an eye and ear witness to all the proceedings; the story may be taken for what it is worth.
      The Toronto Daily Globe
      Tuesday, August 31, 1875

TO THE EDITOR:-- It was sworn by the defence in the Bark BOARD OF TRADE trial that a marlin spike and small crowbar - used for making the holes in the water-closet pipe - were found on the cabin floor, near the water-closet room, in the aft part of the cabin. It was proved on the part of the plaintiff, and not disputed by the defense, that the vessel sunk head foremost, and the stern stuck up out of the water for a few minutes, at which time the cabin floor must have been almost perpendicular to the lake. Problem - Why did not that marlin spike and crowbar slide downhill to the forward part of the cabin floor. It looks as though the scuttling of the pipe was done after the vessel stood on her end in the lake, and so twelve men have agreed -- Observer
      The J. W. Hall Great Lakes Marine Scrapbook, June 1877

      Owner And Manager Of Hawgood Fleet Succumbs After Long Illness.
      By the death of Henry A. Hawgood at Cleveland yesterday, the marine interests of the Great Lakes loses one of its most active members. Mr. Hawgood started at the very foot of the ladder, and his success was due simply to hard work. He began as a tug engineer on the Detroit River in the early '70's. Crawford, Ballantine & Co. of Saginaw were the first to conceive the idea of towing lumber in barges and schooners and Mr. Hawgood was given charge of a fleet, that is a steamer and two barges. While in this business he made some money and purchased the barge MATILDA, along in 1878, in campany with John Kelley of East Saginaw.
He soon bought out his partner, and while operating his lumber barge went in the then huge new steamer KERSHAW. He later bought the old CHICAGO BOARD OF TRADE, a vessel wrecked in Lake Erie and brought to Buffalo to be sold. He secured this boat for $700, took her up the lake and rebuilt her. He later joined with Eddy Brothers and secured several boats, acting as manager for the line. Waldo Avery of Detroit was also one of the new firm, and he afterward sold out to Mr. Hawgood.
Later Mr. Hawgood built several large steamers, and owns home six or seven of the best boats on the lakes. He was about 62 years old, and leaves a wife and two children. He had been ailing for nearly two years with a stomach trouble, which finally caused his death. He was one of the best known men on the chain of lakes, and his death is regretted by hundreds of vessel men from Buffalo to Duluth. He was a man of great popularity and his word was considered as good as his bond. Two brothers survive him. W. A. and Arthur H. Hawgood. Burial will take place at Cleveland, Friday afternoon, and many Buffalo men will attend.
      Buffalo Evening News
      Wednesday, April 4, 1906

Schooner CHICAGO BOARD OF TRADE. U. S. No. 4331. Of 423.91 tons gross; 402.72 tons net. Built Manitowoc, Wis., 1863. Home port, Bay City, Mich.
      Merchant vessel List, U. S., 1884

Media Type:
Item Type:
Reason: sunk
Hull damage: $19,000
Cargo: $42,000
Freight: wheat
Remarks: Raised later
Date of Original:
Local identifier:
Language of Item:
Geographic Coverage:
  • Ontario, Canada
    Latitude: 42.454166 Longitude: -81.121388
William R. McNeil
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Chicago Board of Trade (Schooner), U4331, sunk, 1 Jul 1874