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The Algonquin was a schooner, built in 1839 by George Washington Jones in Lorain, Ohio. It had a wooden hull with a scroll head and square stern. The original owner of the vessel was Cyrus Mendenhall, based in Cleveland, Ohio, and it was also owned by J.S. Converse, W.A. Converse, James A. Converse, and Samuel Richardson of the Cleveland North Western Lake Company.

The Algonquin had two masts and was a gaff-rigged schooner, carrying gaff topsails and two jibs. Its dimensions were recorded as approximately 55 feet 4 inches in length, 18 feet 2 inches in beam, and 6 feet 8 inches in depth. It had a tonnage of 54 59/95 (old style measurement).

The vessel played a significant role in the early days of Lake Superior shipping. In 1839 or possibly 1845, it became one of the first large vessels to be pulled over the portage at Sault Ste. Marie. In the 1840s, it carried the first mass boulder of copper from Ontonagon to Sault Ste. Marie and transported the first samples of Lake Superior iron ore. It also carried supplies for the construction of Fort Wilkins at Copper Harbor and assisted in the salvage of the steamer INDEPENDENCE at Ashland, Wisconsin.

Throughout its history, ownership of the Algonquin changed hands. It was enrolled in various locations, including Cleveland, Michilimackinac, and Sault Ste. Marie. In 1852, it played a role in rescuing passengers and crew from the wrecked steamer MONTICELLO off Keweenaw Point. In subsequent years, it had different owners, including Hugh McCullock, William Spalding, Charles Childs, James Carson, Henry Close, J.T. Whiting, J.D. Angus, and A. Davidson.

The final disposition of the Algonquin took place in 1858. It was abandoned and stripped at Quebec Pier in Superior, Wisconsin. The hull was purchased by John A. Barson to be used for a steam yacht but was eventually broken up by vandals for souvenirs. Remains of the vessel were still visible in the 1890s.

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