Despite its namesake's history of shipwreck rescues, the Nathan F. Cobb capsized in heavy seas on 1 December 1896 en route from Brunswick, Georgia to New York with a cargo of timber and cross ties.

The crew righted the vessel by removing the three masts and they drifted for four days until they became grounded on a sandbar off Ormond Beach, Florida.

[1] In his six volume set titled Merchant Sail, William Armstrong Fairburn describes the landscape regarding construction and registration information for ships built in Rockland during the aforementioned era:It is to be regretted that the desired data covering construction and registration at most Maine ports have not been preserved, recorded, and made available for inspection locally; that the records still in existence—and that have not been destroyed or lost—are scattered; the tabulations of the data on hand attempted during recent years by the P.W.A.

On 1 December 1896, after leaving port from Brunswick, the schooner fell victim to the strong winds and high seas associated with Nor'easters.

Gale force winds ripped the vessel's sails from their masts and rough seas capsized the ship to its beam ends.

The crew was able to right the distressed vessel by removing the main and mizzen masts, but this left the Nathan F. Cobb vulnerable since it was powerless and waterlogged.

On the morning of 5 December 1896 the Nathan F. Cobb ran aground on a near shore sandbar roughly 1,000 feet (300 m) off the coast of Ormond Beach, Florida.

Although they successfully made it beyond the breakers, the rowboat succumbed to the strong southerly current; missing the float line thrown from the schooner by five feet.

The men on the shore began pulling the flipped boat in, but another wave broke on top of it throwing Waterhouse into the water and righting the yawl.

After supplying his small rescue boat with more rope lines, he and Edward DeCourcy removed their outer clothing and prepared to embark.

The men on the Cobb, who had just witnessed Waterhouse's drowning, prompted the captain of the schooner to give an impassioned address in which he said, "They have sacrificed one man in their efforts to save us; now I'll risk my life in an attempt to get ashore.

[2] After receiving a cup of hot coffee, a drink of whiskey and a blanket, the Cobb's crew were taken to Coquina, Ormond Beach's area hospital.

[3] Upon hearing the story, General Superintendent Sumner Increase Kimball of the United States Life-Saving Service wrote a letter of praise to Edward DeCourcy for his selflessness and bravery; also acknowledging the many others involved.

William "Billy" C. Fagen was given permission to use the material to aid in the construction of the main cottage structure and its outer kitchen and dog-trot (breezeway).

[6] Previously, a large boulder had been sent from Freed Waterhouse's hometown of Cape Elizabeth, Maine, decorated with a bronze plaque commemorating his brave rescue efforts.

This monument was prominently placed in the sand dunes near the site where the ship ran aground, but in July 1972 the plaque was vandalized and broken off.

[5] Despite limited information about its service routes and construction, the Nathan F. Cobb was the subject of two separate New York Times articles during its short career.