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left Quebec City on May 31, 1980, behind the tug HANSEAT and in tandem tow with the Welland Canal "shunter tester" MARINSAL, the former PETER ROBERTSON (ii). The tow arrived at La Spezia, Italy, on June 25, 1980, but cutting on ROYALTON did not begin until September 3, 1981. Before lone, the handsome old laker was but a memory. Her Canadian registry was not closed until August 18, 1983. * * * Ed. Note: For their assistance in finding and providing material for this feature, the Edi­ tor extends sincere thanks to Ron Beaupre, Don Boone, Al. Hart, Capt. Gerry Ouderkirk and Russ Plumb. The scrapbooks of our late member Ivan S. Brookes were of much assistance, as were the notes of James M. Kidd and also the database of the Historical Collections of the Great Lakes at Bowling Green State University, Ohio. Skip Gillham provided photos and log abstracts and his book The Ships of Collingwood was helpful. Our own copies of pages from "Canadian Railway and Marine World" yielded much information concerning the construction of ROYALTON, as well as of the financial troubles and eventual demise of the Mathews Steamship Company. As for the collision with MONROVIA, much information was gleaned from Chapter 6 of Steel on the Bottom by Frederick Stonehouse, and from the United States Coast Guard's re­ port of its investigation into the accident. * * * * * TORONTO MARINE HISTORICAL SOCIETY Statement of Income and Disbursements - September 1, 2006 - August 31, 2007 - Bank Balance as at 31 August, 2006 .................................. $ 6, 215. 84 INCOME: 2006-2007 Memberships (236 x $40) ................... $ 9, 440. 00 Foreign (3 x $50) .......................... 150. 00 $ 9, 590. 00 U. S. Exchange, Book & Back Issue Sales, etc........ 670. 28 Donations ................................................ 220. 00 May Dinner Tickets (28 x $38) ....................... 1, 064. 00 Silent Auction .......................................... 2, 592. 08 Ship of the Month - cont'd. 10. DISBURSEMENTS: "Scanner" - Pronto Reproductions ....... $ 8, 651. 79 - Postage and Supplies ....... 2, 670. 91 $11, 322. 70 Captain John's (May Dinner) ............. 817. 60 Swansea Town Hall (Meetings) ............ 268. 97 Website ..................................... 224. 60 $14, 136. 36 $12, 633. 87 Excess of Income over Disbursements .................................. $ 1, 502. 49 Bank Balance as at 31 August, 2007 ................................... $ 7, 718. 33 William R. Wilson, Treasurer, 10 September, 2007 Editor's Note to the Financial Statement: We are pleased to present this report with the good news it brings. We were able to reduce expenditures, even with the added cost of setting up the web­ site, and income increased, mostly due to higher fees and the great results of the silent auction. So no fee increase is needed for the 2007-2008 year. As always, sincere thanks are due to Chief Purser Bill Wilson for looking after all matters financial and also making the arrangements for the Annual Dinner Meeting. * * * * *