The schooner Margaret Throop, 1264 tons, was built by Dunn and Elliot in Thomaston in 1918. Her master was H. L. Heyliger. The Dunn and Elliot yard was on Water Street, across the street from 47 Water Street.

A large number of spectators have turned out for the launch of the schooner, parking their cars along Water Street. Launch days were exciting events, especially for the larger vessels. The huge vessels were not always guaranteed to launch without problems, and everyone wanted to be a witness. On more than one occasion, ships did not slip into the river as planned, tipping onto their sides. On one ship launch in the O'Brien yard, an anchor set into the hillside, dragged a huge furrow to the shore when the vessel was prematurely released.

The tollbridge to Cushing can be seen on the left side of the image. The Dunn and Elliot sail loft at the foot of Green Street can be seen on the right side of the photograph, just behind the bow of the vessel. Bowsprits of the larger vessels built along the waterfront used to extend up the banking and out over Water Street.