The passage you provided indicates the history of a non-dangerous sunken wreck located at LAT 42-59-11.5N, LONG 78-56-30.5W in Lake Ontario. The wreck was designated as LS1777/40.
During a hydrographic survey (H9841/79), the remains of an old wooden barge were located. The wreck was awash at the sounding datum and was found at LAT 42-59-11N, LONG 78-56-29W.
Based on the survey results, the evaluator recommended charting the wreck as shown on the survey. The information was entered into the Marine Safety Manual (MSM) in September 1988.
This means that the location of the sunken wreck has been identified and recorded as non-dangerous. It will be marked and recorded on relevant navigation charts for reference and safety purposes.