On November 17, 1902 shortly after leaving Superior, Wisconsin with a cargo of iron ore, Robert Wallace sprang a leak and sank.

[2] She was powered by a small 550 horsepower compound steam engine and fueled by a single coal-fired Scotch marine boiler.

[9] On October 22, 1896, the boilers of Robert Wallace started to leak and they needed to be repaired so that she could continue her journey.

[10] On November 17, 1902, Robert Wallace departed the ore docks in Superior, Wisconsin laden with a cargo of iron ore.[3] She was also towing the schooner barge Ashland, which was also full of iron ore. About four hours after their departure Robert Wallace sprang a leak and started sinking.

[3] Her crew was transferred to Ashland which then sailed to Two Harbors, Minnesota, and was towed to safety by the steel hulled tug Edna G. Even though Robert Wallace was loaded with iron she sank quite slowly.

Hours after her crew abandoned her, Robert Wallace continued to float on the surface of Lake Superior with her lights still on.

Later, Merryman and diver Bob Olson identified her wreck after seeing her name, still painted in white lettering on her stern.

[4] The wreck of Robert Wallace rests relatively intact in 240 feet (73 m) of water about seven miles (11 km) south of Knife River, Minnesota.