The Banner was owned by O.M. Nelson of Sturgeon Bay and Mary Schultz of Racine, just being purchased for $1,200.00 one week prior to its demise. It was the first voyage in service to her new owners.
Sunday, November 4, 1883. The schooner Banner, lumber-laden for Racine, Wis., was docked at Clay Banks when a southeast gale sprang up. The schooner's position was untenable owing to the dock's exposed position. Capt. Stokes therefore opted to sail for shelter. When off Ahnapee, Wis., the captain put the vessel about for Sturgeon Bay canal, reaching the canal at about midnight. In the darkness, Capt. Stokes missed the canal's opening and the Banner went ashore on the south side of the breakwater. The heavy sea on Monday broke the ship up, but Mr. F. Paarman, the owner of the lumber, was able to salvage a good potion of the cargo.