Peter Stuyvesant
"Washington Irving" was raised on 13 February 1927 and towed to a dry dock to determine whether its condition warranted repair. In March, "Washington Irving" was determined to be a total loss and a bond was issued to refinance the company's debt and to provide financing for its replacement, the "Peter Stuyvesant". The "Peter Stuyvesant" was originally estimated to cost $700,000, but when the boat was completed in June, the final cost was closer to $1,000,000.