The two masted wooden schooner was built in 1867 in Detroit, Michigan. The vessel had been rebuilt at least two times. The last time the size was increased to: 66.4' X 18.8' X 6.6', 59.41 gross tons.

This vessel; Dreadnaught, registration no. 35270 is sometimes confused with the larger Dreadnaught registration number 6130 which was sunk and abandoned in 1879 off Cleveland, Ohio in Lake Erie.
During the last few days of November, 1893 the schooner Dreadnaught was coming from Washington Island (located off the tip of Door Peninsula) bound for Milwaukee with a cargo of cord wood. Because of the ice on the boat, the vessel became unmanageable. Approximately 30 miles southeast of Racine the Dreadnaught was discovered iced up. The two crewmen were rescued by the steamer Syracuse. The vessel eventually did not founder and sink off Racine but was driven ashore at Saugatuck, Michigan where it broke up, but was not discovered until August 27th, 1896.