The schooner EXCHANGE, with an official number of 7315, was built in Vermillion, Ohio in 1857. This wooden-hulled vessel was a schooner type with a single deck. It was constructed by I.W. Nicholas and initially owned by A. Bradley of Cleveland, Ohio.
Equipped with two masts, the EXCHANGE had a length of 138 feet, a beam of 26 feet, and a depth of 11 feet 8 inches. In terms of tonnage, it measured approximately 390 78/95 according to the old style of calculation.
Tragedy struck on November 20, 1874, when the EXCHANGE ran aground at Kelley’s Island in Lake Erie. The vessel, carrying a cargo of stone blocks, was attempting to leave the harbor amidst heavy weather conditions. As a result of the stranding, the schooner was declared a total loss and abandoned on November 30. Subsequently, it was broken up during a gale in April 1876. The remains of the ship were later struck by the tug AMERICAN EAGLE in 1885.
Throughout its history, the EXCHANGE encountered various incidents. In July 1857, it suffered damage due to a collision with the brig R.H. HARMON in the straits of Mackinac but was repaired. In August of the same year, the vessel sank in Racine, Wisconsin, in Lake Michigan while attempting to make port during a storm while laden with lumber. However, it was raised and came under the ownership of St. Clair, Michigan.
Further events include the shipwreck of the steamer COMET in May 1861, resulting from a collision at False Duck Islands in Lake Ontario while carrying wheat. The EXCHANGE was repaired following this incident. In October 1862, the vessel lost its deck load of iron ore during a gale at Marquette, Michigan, in Lake Superior. Additionally, on November 22 of the same year, it sustained damage in a collision with the schooner J.C. REEVES at Oak Orchard in Lake Ontario, while carrying salt. It underwent repairs in Oswego, New York.
In 1866, the schooner was re-measured and recorded as having a gross tonnage of 292.04. In September of the same year, it sank at Cleveland in Lake Erie while en route from Marquette with a cargo of iron ore. However, it was successfully raised. In 1871, ownership of the vessel transferred to Mason & Thompson of Cleveland. During the same year, it ran aground in the St. Clair River but was later released with the assistance of the tug G.H. PARKER.
By November 1874, the EXCHANGE met its final fate as it wrecked in Lake Erie. James Lawler of Sandusky, Ohio, had assumed ownership of the vessel at that time.
