Margaret was a wood-hulled menhaden fishing trawler built in 1912 by Humphreys Marine Railways[note 1] for Bellows & Squires Company.

[1][4][5] Joseph Foster Bellows and George P. Squires had joined Humphreys in taking over the marine railway construction firm in 1912 to build their menhaden fishing fleet.

[5] Following the Armistice ending World War I SP-328 and the other boats of the Bellows & Squires Company were sold at auction.

The company had built replacements at the yard in which it held interests and, fearing damage to engines, did not bid on any of the boats.

[6] The registers for 1928 and 1930 show the vessel operating for the Douglas Company of Reedville, Virginia, engaged in fishing.