The Galena, Dubuque, Dunleith, and Minnesota Packet Company began operating in the summer of 1847 with one steamboat, the Argo. Companies like the this operated in the packet trade, where any regularly scheduled cargo, passenger, or mail trade is conducted by ship. The Argo was part of the Galena Line, which also purchased other boats and organized with other packet companies to strengthen the transportation system on the Mississippi River. The Argo operated regularly between Galena, St. Peters, Fort Snelling, and Stillwater. By 1863, however, the company suffered due to economic recession and was eventually forced to reorganize.
The Argo sunk in October of 1847, only months after its enrollment. Although the conditions for its sinking are unknown, it is reported that the Argo was extensively damaged and that the cargo and machinery were salvaged. A portion of the vessel could still be observed in 1880.
Historical reports place the sinking of the Argo at the foot of Argo Island above Winona, Minnesota. The island, however, is eroded away, so the current whereabouts of the vessel's remains are unknown.