The brig Algomah was enrolled in Oswego, New York, as a vessel designed for trade through the Welland Canal. At the time, it was the largest vessel on Lake Ontario. It was a fully-rigged brig with one deck, two masts, a square stern, and a plain stem. As such, it had to be lightened during transit through the canal. The same year of its enrollment, 1845, it went aground at Port Dalhousie. After passing through the canal during a severe storm, Captain Morgan of the Algomah cast the anchors. He discovered the anchors to be dragging and thus ran the vessel ashore a half mile north of the canal. The November 15 issue of the Daily National Pilot reported, "The violence of the storm and the sea caused the vessel to beat with great force upon the shore, and she bilged and sunk, her bows in five and her stern in eight feet of water." The Algomah made it into port for repairs, however.

There are conflicting historical reports for the final wrecking date of the Algomah. It was reported as stranded and lost at Milwaukee in 1856 and later in 1861. However, the Algomah appears in traffic lists and enrollments into the late 1860s.
It is unclear what the final fate of the Algomah was. There are many conflicting historical reports. Some accounts note the brig was stranded north of Fox Point, Wisconsin, while loaded with general cargo in March of 1856. The Algomah was then listed as a total loss, but was enrolled at Chicago until September 4, 1862. The vessel was also reported wrecked at Milwaukee on July 7, 1861.
The current location and condition of the Algomah have not yet been verified by archaeological investigation. Further research must be completed to determine the wreck site.