Emperor was a 525' steel bulk freighter carrying a load of iron ore. It was built in Canada in 1907, and met its demise in the early morning darkness of June 7, 1947. Principal blame was placed with the First Mate for not keeping "proper watch". This was further qualified, saying that the prevailing system, required him to be in charge of loading when he should have been off-duty resulted in his being overtired from lack of sleep. Out of this came the practice of today's Lake sailors, four hours on, eight hours off, four hours on, eight hours off.
This picture is of a large windlass, used to raise and lower the anchors, and Andres Diaz, an Archeologist with the NPS Submerged Resources Center. This image was taken in about 40-45' of water. -Steve Martin, ISRO Picture of the Day