A historical account describes the wreck of the Alleghany: "A very heavy gale from the North-East sprung up during Saturday night and raged, with great violence, till Sunday morning. The propeller Alleghany, with a large cargo of goods bound for this port, came into our bay, during the height of the gale, and seeing no light in the Harbor Pier anchored under the lee of the North Point. Here, she soon rolled out her smoke-pipe and though with two anchors ahead, commenced dragging. As she was disabled by the loss of her smoke pipe, she could not use her steam, and continued to drag till she went ashore, a short distance north of the wreck Sebastopol. The tremendous sea lifted her far up toward the beach and she lay yesterday, within 100 feet of the shore, and her hold full of water and the sea making a clear breach over her. She will go to pieces. A part of her cargo will be saved in damaged condition." MS 10/22/1855 p.2 c.3

During the winter of 1856, The Jones' shipyard salvaged the boiler and engine from the Alleghany and placed them in a new steamer being built for the American Transportation Company.

Last Document Surrendered: Buffalo 5/04/1855.
The wreck of the Alleghany is probably broken and buried in the mud just north of the wreck of the Sebastopol.