Is this all there is?

Debate rolls on as to whether the ship was actually carrying several tons of gold bullion and gold ore in concentrate - as claimed by Ted Jaynes of OceanMar.

Jaynes has been searching for the elusive cargo for nigh on a quarter of a century.....

He claims to know where the gold is......

But....as he was to discover....all that glistens is not gold.....

In a 2007 court filing, Ocean Mar said its research had indicated that at least six tons of gold bullion in 25 to 30 wooden boxes was stored in a passenger cabin. It also said it had found what it believed to be bullion boxes near shore, no deeper tha, n 200 feet........But what was initially thought to be boxes of bullion during dives at the site that year turned out to be "glacial boulders having the same or similar size and shape of bullion boxes," according to another court filing.

"We spent a great deal of time inshore, searching for the elusive gold bars that Jaynes claimed to have seen on previous expeditions. But on closer inspection, it was revealed that the 'glinting' gold, was in fact, nothing but slabs of granite adorned with yellowish marine algae...."

Ted Jaynes maintained he saw a gold bar back in 1994 - but when we put the sub down on the location he had logged - there was nothing there - just a bunch of rocks.........

Jaynes' screamed 'Someone's pirated my claim!'

He then broke out the ship's bottle of emergency brandy, and proceeded to drown his sorrows.

He was livid but, like with so many other aspects of the project, he was only seeing what he wanted to see - ignoring any advice to the contrary - including that of the Kline sidescan sonar expert, who had joined us from the TWA 800 crash site off East Moriches.Jaynes had his own theory regarding the Islander sinking, claiming to have see 'scuff marks' on rocks, close inshore, which had caused the ship to veer off course, listing heavily, depositing iron bound pine boxes, which punched a hole through the cabin side, before sliding across the tilting deck, and dropping overboard.

By 1996, Ted Jaynes had become paranoid, and delusional. Perhaps the writing had been on the wall for some time.......The following is a treasure hunter's description of the 1994 'Islander expedition'.

"Yes, I was there in 1994 as the Captain of the search/salvage vessel
 

I was hired by Ted Janes of Ocean Mar to locate, lease, outfit, and operate a suitable vessel for the season. We based out of Seattle.
We leased an '85 steel vessel, twin 8V71 detroits (loud as ****). It was originally a gulf shrimper but had the outriggers removed for use as a salmon tender. It was suitable for our needs because it had a large open deck for equipment (ROV with scanning sonar, a crane, winches, hard hat dive compressor and HP air bank of T bottles, etc) as well as sufficient space in the hold for provisions and other equipment along with the "command center" for ROV and dive operations.
There were 6 of us on board. Besides Ted and myself, there were 2 experienced commercial divers, a second skipper, and a kid that I will generously call a deck hand.
It was an exciting trip and we were very close to where it was eventually found, but we came up short that season.
5 days non-stop up the inside passage from Seattle to Douglas Island, then the real fun began.
Actually, it was expected to be a real challenge and it was! The tides run hard, the water is deep and rocky. It is no easy task to get properly moored close alongside a rocky shore in 150'-200' of water. A three point mooring no less!
We had a DOE HD2+2 ROV (for anyone who is familiar with ROVs of that era) that was powerful enough to drag a person overboard with its umbilical. It was a pretty high end work ROV and was equipped with a Reson SeaBat multi-beam scanning sonar for navigating the murky water and locating targets. And of course powerful lights and video camera.
It was pretty hairy work and we worked several days at a stretch, only breaking off to seek shelter in a nearby cove when the weather got too bad for the anchors to hold.
Week after week and the stress took a toll on everyone, especially Ted who was a pretty pompous ass to start with. By the time we got to the end of the vessel lease period, Ted was coming unglued. He was convinced that everyone was plotting against him, even a long time friend who was one of the divers. Privately, the two divers and second skipper and I agreed to make every effort to keep him calm and focused on the project. We tiptoed on eggshells just to try and avoid serious conflict.
We came up empty and had to return to Seattle. Ted never really recovered his attitude and made enemies of everyone. As far as I know, I was the only person being paid and even though I had a written contract, he failed to deliver my pay as agreed. I tried unsuccessfully to get him to honor the contract for a couple years and eventually had to file a lawsuit to get paid. I also had a signed contract pledge of 1% of any treasure eventually recovered but Ted had the only copy so that was gone like dust.
Honestly, I don't think he every really recovered. Treasure hunting and gold fever can turn people into obsessed lunatics, that has been known for generations. Now I have seen it in person and it ain't pretty!
There are days where I wonder what I could do with $40K from my 1% share. Then again, I got us all back safely and have great memories of the good parts and with stories to tell about the bad parts. Can't put a dollar value on that.
Glad I ran into the stories of the gold that was recovered by the latest team (that only includes Ted as a footnote), it brings back some interesting and vivid memories, some good, some not.
On a slow bell, that's how I take life now......

THE DETROIT FREE PRESS, Michigan, August 19, 1901

Such are the potential perils of the inland passage of the Pacific Coast that the findings of the Court of Inquiry into her sinking stated that the Islander was in thoroughly seaworthy condition when she left Skagway

 on the evening of August 14, 1901. She was a total wreck eight hours later, resting in 110 metres of water after striking drifting ice near Juneau, Alaska. In total, 40 lives were lost.

Following the accident, the Vancouver Daily World reported that after striking the ice, the evacuation effort was calm and collected and the Islander's officers and crew "acquitted themselves nobly of their duty".

 Upon recovery of the victims' bodies, the inquest in Juneau concluded that the deaths were accidental, with no one at fault.

The Canadian Pacific Navigation Company's S.S.Islander, launched by Napier Shanks & Bell of Glasgow in 1888

The subsequent official inquiry may well have reached similar conclusions had not new information been uncovered by a diligent King's Council. The Commission of Inquiry began in Victoria on Wednesday September

 4, 1901 and initially the witnesses were mainly crew members whom the commission refused to allow to be cross-examined. The Commission recessed at lunch on Friday, stating they would meet again on the

 following Tuesday afternoon, September 10th, to pronounce a verdict, should no further witnesses come forward.

On Monday September 9, 1901, King's Council E.V. Bodwell acknowledged receipt of his instructions to appear at the inquiry on behalf of the government. He immediately won an adjournment to allow time to

 produce new witnesses from among the Islander's passengers. He also secured the right to cross-examine the conduct of the crew and to take other measures to ensure that the inquiry was not seen to be helping

the company to "whitewash its officers."

The new witnesses painted a very different picture than what had so far emerged, testifying that the sinking was accompanied by confusion and chaos. Passengers in their cabins were not informed there had been

 an accident; the captain was alleged to have been inebriated; and half-empty lifeboats containing crew members left the ship, leaving passengers stranded on deck. Only after the inquest had finished, when the

North West Mounted Police inquired into compensation for lost goods, was it discovered that not all of the crew members were licensed for their profession.

The final, three-page finding of the inquiry was, among other items, critical of the Captain for not ensuring a proper quota of people per boat and for not realizing the imminent danger that the ship was in. However,

 a short handwritten paragraph was inserted into the document, stating that the loss of the Islander was not due "to the intemperance of the Master or Officers."

Reports of lucrative amounts of gold on board the sunken ship led to many early salvage efforts and several lawsuits.

The findings of the inquiry into the sinking of the Islander included the following:

"We find that no special instructions had been issued by the master [captain] to the pilot, or person in charge of the deck, when he left the bridge, relating to the navigation or speed of the vessel in the

 event of falling in with floating ice - which was not unexpected in the locality through which the ship was passing. We think that Pilot Le Blanc is open to censure for his action in keeping the ship full speed - 

at the rate of nearly fourteen knots an hour - after having seen floating ice some ten minutes before the accident.

We would also condemn the custom apparently in vogue in coast waters in leaving the bridge of any steamer at night, and more especially a passenger steamer, in charge of only one officer......

 

The main portion of the hull was discovered in 1934, but the bow section, where the gold was apparently located, eluded searchers until 1996, when it was located and identified by Commander Nicholas R Messinger

RD*, RNR, Master Mariner and Fellow of The UK Nautical Institute, 95 years - and almost on the hour of its sinking  .

Later, he worked as a motion-picture cameraman for the 1938 film 'Call of the Yukon.' Delano died in 1989. His son, Doug, fulfilled his late father's dream in 2011 with the publication of this excellent book.

SS Islander, outboard, loading for the Klondike gold fields at Victoria BC in 1897

This is a story with more twists and turns - and probably more intrigue - than that of the RMS Titanic of the White Star Line, which sank, amidst much publicity, in 1912.  The SS Islander belonged to another great

 British institution: the mighty Canadian Pacific Navigation Company.  She sank eleven years before the Titanic, almost anonymously - just another victim of the weather and the treacherous waters of the infamous

Inside Passage, the notorious stretch of Pacific between British Columbia and Alaska. 

Seattle, 1901

The SS Islander, was serving the Inside Passage between Alaska and Seattle, and was south bound out of Skagway when she struck what was reported to be an iceberg and sank in the Lynn Canal, south of Juneau

 on August 15th, 1901. Carrying miners, business men and dignitaries home from the gold fields, her cargo was reported to be millions of dollars in gold. In 1934, she was raised from the seabed, and beached on

 Admiralty Island. Despite employing teams of gold prospectors, nothing of substance was found inside the main hull. 

"Examination of photographs taken at the time, revealed an unexplained mystery: the whole bow section of the ship - from the stem bar to the passenger accommodation forward bulkhead - was missing!  According

 to statements made by the Royal Canadian Mounted Police Constables who were onboard to guard the shipment, the gold bullion was stowed in a locker on the port side of the forward well deck, just abaft the

break of the focsle. "An area located within the 'missing' hull section, which remained missing until August 1996, when we located what remained of the steelwork, using sidescan sonar and a Remotely Operated

 Vehicle." Nick Messinger 1996

Sidescan Sonar Image Showing Bow Section and Debris

This web page is dedicated to our ROV Pilot, my friend Ronnie Farmiloe, an old boy of Charterhouse  School, who could cook the most marvelous Sunday roasts, who was tragically murdered, in Thailand.

Ronnie Farmiloe, ROV Pilot and  gentleman.             Ronnie's 'baby', Sea Eye Surveyor ROV

 But now back to that awful night, 15th August 1901, and the words of a local newspaper man: Mr Charles Ross, one of the survivors of six people who were dressed and left on the deck of that ill-fated vessel to look out for themselves as best they could when she plunged into the depths of the sea, gave us the following sketch of the sad disaster. The time is so young and his feelings so tender that we did not care to be too inquisitive. “The vessel has set sail from Skagway the evening before, and at 2.15 a.m. or 1.15 Dawson time, the ship struck. They were in bed, and feeling the shock he arose, but in a few minutes an officer passed their room door and told them there was nothing the matter. Mrs Ross lay down again, but in a few moments he heard something like chopping, going on above and went on deck. The largest and best lifeboat had then left with eight of the crew on board, and the boat would have carried forty people. He hastened to his room and told Minnie to hurry up, there was danger. Dressing as quick as possible they went on deck. The last boat was then leaving the vessel and was not thirty feet away; they called to the men to return but they would not. They then put on life preservers and in a few minutes the vessel went down. They did not step off the vessel as has been reported, but went into the water as the vessel went down, in fact stood in the water when they were putting on their life preservers. Mr Ross never spoke to Minnie afterwards. When in the water he called to her but no answer came. When the first boat landed, volunteers came up afterward and took the boat to hunt for bodies, or anyone floating on rafts or what they could find. The sailors would not return. Mr Ross was in the water nearly three and a half hours before being picked up, and it was 9 o’clock a.m. before he regained consciousness. He was nearly dead from cold. He had gotten hold of a piece of wreckage and kept his head out of the water. Mrs Ross was picked up floating among the wreckage. There seems to have been some sort of explosion as the vessel went down, and no doubt some of the dead were struck by wreckage as all the bodies recovered were bruised. It is said that fully sixty to sixty-five people were drowned. The Officers did not call anyone from their berths.”

The Mighty Canadian Pacific

Canadian Pacific has a unique Canadian history. It was founded in 1881 to build a transcontinental railway linking Eastern Canada with the Pacific Coast. The railway, completed in 1885, united a young nation and paved the way for a century of growth and development.

CPN was incorporated in 1883 and endured until 1901 - shortly before the wreck of the Islander - when Canadian Pacific Railway acquired the firm and made it an important part in the basis of CPR’s marine division, later to be known as Canadian Pacific Steamships Ocean Services, Ltd.

SS Empress of Britain's "Mayfair" Lounge, 1933

Today, Canadian Pacific Limited is a diversified operating company active in transportation, energy and hotels. The Canadian Pacific group of companies includes Canadian Pacific Railway, CP Ships, Pan Canadian

 Petroleum, Fording and Canadian Pacific Hotels. Canadian Pacific's shares are listed on the Toronto and New York stock exchanges under the symbol "CP". Headquartered in Calgary, they are active in every

province in Canada with their strongest concentration of assets in Western Canada, particularly in Alberta and British Columbia.

SS Islander - Pride of The Canadian Pacific

The ss Islander was a 240 x 42 x 14ft steel-hulled, twin screw passenger liner whose Dunsmuir & Jackson triple expansion steam engine was rated for 15 knots.

Prior to the unhappy event, and before commencing service on the lucrative Vancouver - Skagway service in 1892, she served as the principal ship for transporting Vancouverites to Victoria and Victoria residents to

the Lower Mainland.

The Islander was designed by Captain John Irving (1854-1936), the then General Manager of the Canadian Pacific Navigation Company, and completed by early 1888, to begin its lengthy journey from the U.K.,

 across the Atlantic, around South America and Cape Horn and North to San Francisco, then on to Vancouver, where she arrived towards the end of December.

S.S. Abyssinia or Parthia, left and Islander, right, with the first Canadian Pacific Railway station in foreground, Vancouver. BC Archives

The Vancouver World newspaper described the steamer (somewhat incongruously) as both a “Gulf of Georgia Greyhound” and a “Floating Palace”. It’s status as Greyhound of the Gulf was established in it making

 the Victoria-Vancouver sailing (from harbour to harbour) in just over 4 hours.

ss Islander Central Staircase

The dining saloon could seat 76, with the Canadian Pacific Navigation’s monogram carved into each chair. The linen, silver and plateware were apparently among the best that money could buy. The staterooms

were fitted out with electricity, a call bell, a lavatory, and 'an abundant supply of water'. There were two bridal state rooms, and all told, the cabins could sleep a total of 130 people.

The upholstery throughout the Islander was reputed to be of “the most recherche description” and the ceilings were “elaborately ornamented with carved work and lincrusta of beautiful design”.

ss Islander's spacious dining saloon

She was intended for the sixty-hour Inland Passage schedule to Skagway, and was reputedly the most luxurious steamer engaged on that run. As a consequence, she was the favoured ship for the many wealthy businessmen, speculators, bankers, railroad tycoons and the like who had a stake in the lucrative Klondike gold fields.

Islander in Esquimalt BC Drydock in the 1890s

Islander having propellers repaired on beach at Sitka, July 25, 1892.

SS Islander - outboard - loading at Victoria BC for the Klondike in 1897

SS Islander - leaving Victoria BC for the Klondike in 1897

The Islander's Special Day

Islander was one of the most popular ships on the Inside Passage run and on 30th January 1893, celebrated her 1000th trip between Victoria and Skagway.

Lower away!

Popular Mechanics Magazine drawing of the c1934 Curtis-Wiley diving machine

Islander between the Griffson and Forest Pride in 1934

Islander beached on Admiralty island in 1934

Washing out the silt and gravel in search of the elusive gold ore in concentrate

The Engine Room Telegraph.

The above pages from Popular Mechanics were kindly sent to me by J.S.Bech of The Rebreather Website

http://www.therebreathersite.nl/12_Atmospheric%20Diving%20Suits/1933_Carl%20Wiley/Carl_Wiley.html

Salvage Efforts 1996

In a 2007 filing, Ocean Mar said its research had indicated that at least six tons of gold bullion in 25 to 30 wooden boxes was stored in a passenger cabin. It also said it had found what it believed to be bullion boxes near shore, no deeper than 200 feet.

SS Islander Bow Section Wreck Site, August 1996

Sonar Image of Bow Section, 0235 hrs 15th August 1996

95 years to the hour and day since her sinking.....

SS Islander Bow Section Porthole August 1996

Retrieved and returned to wrecksite again after positive identification.

Ted Jaynes and the US Crew August 1996

Nick M - ROV Umbilical snarl-up; Diving; Sidescan; On Deck at Juneau

The Saga Continues:

In February 2002, OceanMar and IUC joined forces in order to continue salvaging the SS Islander’s bow section, using  IUC 's Aloha  - but then a serious mishap occurred:-

  Transocean Sedco Forex Reports Rescue of Crew of Survey-and-Recovery Vessel ALOHA

HOUSTON, Feb 8, 2002 (BUSINESS WIRE) -- Transocean Sedco Forex Inc. (NYSE:RIG) today announced that its drillship, Peregrine III, has safely rescued the nine-member crew of the survey-and-recovery vessel ALOHA, which was lost at sea about 100 nautical miles northeast of Cozumel while under way to a historical and bullion wreck. The ALOHA reported that it had lost power and was taking on water on Thursday, February 7. Also responding were a German container vessel, MV Libra Houston, and a Norwegian cruise ship, Rhapsody At Sea. The ALOHA crewmembers, including four U.S. citizens and five Philipinos, were taken aboard the Peregrine III from an ALOHA life raft. No medical problems were reported among the rescued crewmembers.

The ALOHA, a dynamically positioned ROV (remotely operated vehicle) survey ship, belongs to Deepsea International (DSI). "As the managing director of DSI, I am sorry to see the loss of our ALOHA, grateful for the spared lives of its crew, and proud to be a stockholder of Transocean Sedco Forex, a company we owe a great deal of gratitude in responding to our situation," said Eric Galerne, who was onboard the ALOHA and is now aboard the Peregrine III. Captain Mike Moore, Chief of Search and Rescue for the Seventh U.S. Coast Guard District in Miami, wrote in an email to Peregrine III Captain Ron MacDonald: "You and your crew are commended for the humanitarian assistance displayed during your rescue of nine crewmembers from the research vessel ALOHA ... Your quick recovery of the survivors and timely notification to Coast Guard rescue coordinators resulted in saving nine lives. The professional actions demonstrated by you and your crew are appreciated. Well done." Added Tim Juran, North America Region Manager for Transocean Sedco Forex: "We are, indeed, proud of Captain MacDonald and the well-trained Peregrine III crew for helping avert the loss of life at sea." Transocean Sedco Forex Inc. is the world's largest offshore drilling contractor with more than 160 fully or partially owned or operated mobile offshore drilling units, inland drilling barges and other assets utilized in the support of offshore drilling activities worldwide. The company's mobile offshore drilling fleet is considered one of the most modern and versatile in the world with 31 high-specification semisubmersibles and drillships, 29 other semisubmersibles and one drillship (other floaters), and 54 jackup drilling rigs, of which 28 are located in the U.S. Gulf of Mexico. Transocean Sedco Forex specializes in technically demanding segments of the offshore drilling business, including industry-leading positions in deepwater and harsh environment drilling services. With a current equity market capitalization in excess of $9 billion, the company's ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

Transocean Sedco Forex Reports Rescue of Crew of Survey-and-Recovery Vessel ALOHA

HOUSTON, Feb 8, 2002 (BUSINESS WIRE) -- Transocean Sedco Forex Inc. (NYSE:RIG) today announced that its drillship, Peregrine III, has safely rescued the nine-member crew of the survey-and-recovery vessel ALOHA, which was lost at sea about 100 nautical miles northeast of Cozumel while under way to a historical and bullion wreck. The ALOHA reported that it had lost power and was taking on water on Thursday, February 7. Also responding were a German container vessel, MV Libra Houston, and a Norwegian cruise ship, Rhapsody At Sea. The ALOHA crewmembers, including four U.S. citizens and five Philipinos, were taken aboard the Peregrine III from an ALOHA life raft. No medical problems were reported among the rescued crewmembers.

The ALOHA, a dynamically positioned ROV (remotely operated vehicle) survey ship, belongs to Deepsea International (DSI). "As the managing director of DSI, I am sorry to see the loss of our ALOHA, grateful for the spared lives of its crew, and proud to be a stockholder of Transocean Sedco Forex, a company we owe a great deal of gratitude in responding to our situation," said Eric Galerne, who was onboard the ALOHA and is now aboard the Peregrine III. 

Thursday, January 17, 2013 Courthouse News.  

SEATTLE (CN) - Two companies sued each other over rights and technology used in an effort to recover "hundreds of pounds of gold" lost in a 1901 shipwreck.
     The SS Islander sank near Juneau, Alaska in 1901, killing 40 passengers, according to the two federal complaints. The ship was believed to be transporting "hundreds of pounds of gold" from the Klondike to Seattle and San Francisco. Salvagers say that if there were gold on board, it would likely be "single gold bars and boxes of gold bars" buried under as much as 8 feet of silt.
     MK Salvage Venture LLC, of Seattle, sued Tetra Tech EC, a New Jersey corporation with offices in Seattle, in one complaint. Tetra Tech returned the favor in its complaint against MK Salvage.
     MK Salvage Venture, preparing to recover artifacts and treasure from the Islander, hired Tetra Tech to do technical work for the operation.
     Tetra Tech claims MK Salvage refused to pay it $630,200 for data analysis and survey work. Tetra Tech sued for breach of contract, claiming it "fully completed the scope of work and otherwise fully performed all services."
     Tetra Tech claims it also is entitled to $175,000 if it documents and recovers at least 137 pounds of gold.
     MK Salvage sued for fraudulent inducement, claiming Tetra Tech made false statements about its technology, including its "inability to detect gold bars and its inability to detect boxes of gold bars that were wrapped in iron strap."
     MK Salvage claims that it "repeatedly and specifically sought confirmation from Tetra Tech that it guaranteed its technology would detect non-ferrous materials up to 8 feet under the silt."
     Tetra Tech technicians later disclosed the maximum detection capability of their equipment was only 3½ feet and "they were dubious about their technology having the ability to detect a bar of gold in any depth of sediments," MK Salvage says in its complaint.
     MK Salvage claims it lost two months of excavation time due to Tetra Tech's failed technology and spent several hundred thousands of dollars, "which MK Salvage would not have spent but for having relied on the guarantees and misrepresentations of Tetra Tech and compensating for Tetra Tech's misrepresentations."
     MK Salvage claims it doesn't owe Tetra Tech anything and wants punitive damages for fraudulent inducement, breach of faith, breach of agreement and negligent misrepresentation.
     MK Salvage is represented by Stephen Vanderhoef, with Cairncross & Hempelmann.
     Tetra Tech is represented by Mark Beard, with Lane Powell.

This dispute relates to certain remote operated vehicles (ROVs) provided by the plaintiff, SeaTrepid International, LLC, a Louisiana underwater engineering firm, to assist in a salvage operation on a shipwreck site off the coast of Juneau, Alaska. The defendants are: (1) MK Salvage Venture, LLC ("MK Venture"); (2) MK Pacific, LLC ("MK Pacific"); (3) Bear Trading Enterprises, LLC ("Bear Trading"); (4) Michelle Ridgeway ("Ridgeway"); and (5) Oceanus Alaska. Each of the three limited liability companies was organized in the state of Washington, and the members of each are citizens of the state of Washington. Ridgeway is a citizen of Alaska, and Oceanus Alaska is her solely-owned business. 

Plaintiff filed suit in the Twenty-First Judicial District Court, Parish of Tangipahoa, alleging that the defendants: (1) breached a written lease agreement (for the lease of one Mohawk ROV) (the "Mohawk Lease"), an oral lease agreement (for two Outland ROVs), and several other oral and email agreements (e.g., alleged agreements to use only a qualified ROV pilot, to pay for the two lost Outland ROVs, and to pay for a SeaTrepid technician mobilized to the site); (2) negligently caused the loss of the two Outland ROVs; and (3) converted the salvaged Outland ROV (the other Outland ROV was not recovered). Defendants MK Salvage, MK Pacific, and Bear Trading removed the case to this Court on the bases of diversity and admiralty jurisdiction. (Rec. Docs. 1, 7).

Accordingly, for all of the foregoing reasons, 

IT IS ORDERED that the Plaintiffs' Motion to Remand (Rec. Doc. 8) is hereby DENIED.

New Orleans, Louisiana, this 11th day of March, 2013.

KURT D. ENGELHARDT, UNITED STATES DISTRICT JUDGE 

A 2015 assay of a sample of the gold recovered in 2012, by American Assay Labs in Sparks, Nev., indicated the fineness of the gold at .800 fine, according to Holabird....

The official accounting of $275,000 in gold lost on the Islander in 1901 would reflect about 13,301 troy ounces, today valued at about $15 million, Holabird said. Some 10 or 12 treasure boxes containing gold must have been on the Islander. The estimate is derived from the amount each treasure box could hold, about 85 pounds of gold, according to Holabird.

The gold recovered in 2012 was the content of only one box, and it was initially turned over to MK Salvage Venture LLC in Seattle, in accordance with its court-approved financing agreement with Ocean Mar Inc. for funding salvage operations. 

Teddy Jaynes died of cancer -Ronnie our ROV pilot was murdered.....

© Commander Nick Messinger RD* FNI RNR - Master Mariner - Galbraith Wrightson Senior Research Fellow

www.pandosnco.co.uk