Anchors were let go. Chains parted and vessel drifted to beach. Vessel was abandoned to the underwriters. Wreck Report

Thomas J. Peterson built G W Prescott at Little River, California, in 1874 for a group of owners of whom James Hanson of San Francisco was the half owner and Master. The following delightful account of the launching is recorded:

"The new schooner, G W Prescott, was successfully launched on Wednesday evening at 7 PM. A large concourse of visitors was present, She is owned by the Little River Mill Company, and Capt. Hanson. Mr. G. W. Prescott is the agent of the Little River Company. After the launch, a social dance was given at Corrigan' Hall, where a few pleasant hours were enjoyed by all who participated. Another new schooner has been successfully launched into the still waters of Little River Bay by Capt. Thos. Peterson the builder" (Mendocino West Coast Star, 12 June 1874).

By 1878 Hanson had sold half his interest to her then current Master, William Fox.

Carrying a cargo of railroad ties destined for San Pedro, G W Prescott stranded on the west end of San Miguel at 15 August 1879 at 2 AM. The precise location is not known. G W Prescott is the earliest and smallest lumber schooner to have wrecked in the Point Bennett area. The cargo is appropriate; this was a time when the Southern Pacific was actively building toward Los Angeles and San Pedro. Morris & Lima