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Highlander and Nassau where they were berthed at 155th Street on the Henry Hudson River. Grand Republic and Nassau sank, and Highlander burned to the main deck. Daniel began to rebuild Highlander with a $500,000 con- tract with the Federal Shipbuilding Company, and then renamed the vessel Bear Mountain. In 1931, Daniel won a contract to provide ferry service for tourists to the Statue of Liberty, outbidding 10 other harbor operators. The government contract helped him through the financial crises, but he was outbid for the contract in 1937. In 1938, he suffered a stroke, and passed away a year later. Upon his death, equipment was auctioned off to satisfy creditors. Six months later, Bear Mountain, acquired at the auction for $50,000, was resold for $350,000. The growing popularity of the automobile, coupled with the mas- sive destruction of the Great Depression, signaled the end of the steamboat era. Long Island Sound service that had been provided by companies including the Fall River Line, the New London Line, the New Haven Line, the lines to Providence, the Montauk Line, and of course, the McAllister Steamboat Company, all ceased to exist. All that remained were the Bridgeport & Port Jefferson Steamboat Company, which ironi- cally, was sold to the McAllister Tugboat Company in 1961. The depression also brought McAllister Brothers, the towing company, to near ruin, but the third generation of McAllisters: Anthony, James and Gerard are credited with pulling the company through the difficult years. The Fourth Generation In 1969, McAllister Towing and Transportation (MT&T) was formed by Brian, his brother Anthony, and cousins Neill and James, as a vehicle for the acquisi- tion of McAllister Brothers. The prior generation, Anthony Sr. (father of Brian and Anthony) and James P. (J.P.), the father of Neill and James, owned and operated the company, and had expressed an interest in retiring by the late 1960s. The junior McAllisters wanted to carry on the family busi- ness, but the senior McAllisters wanted to liquidate their equity interests, and sell the company. Several buyers began negotiating November, 1998 to purchase McAllister Brothers. The junior McAllisters, especially Brian, did not want to work for a "Wall Street outfit," and began try- ing to put together an offer to pur- chase the company. In the early 1970s, Brian invit- ed William Kallop to join MT&T, to strengthen the offer. Kallop was working with another group that was also trying to purchase McAllister Brothers. Kallop agreed to join MT&T as an equal stock- holder. Finally, Brian and Anthony's brother Bruce was added to the group. Bruce was an attorney practicing maritime law, and didn't work for the corpora- tion. With Bruce leading the nego- tiations, MT&T purchased McAllister Brothers. However, a rivalry between J.P. and Anthony Sr. complicated the deal. If all stockholders had equal CYGNUS INSTRUMENTS FAMILY OF MARINE INSPECTION GAUGES Circle 243 on Reader Service Card gj Multiple Echo Ultrasonic Metal Thickness Gauges • Coatings DO NOT Have To Be Removed Only Measures the Metal • Minimun Surface Preparation • Easy To Use-Minimum Operator Training INCH & METRIC MECHANICAL PIT GAUGES PAINT COATING THICKNESS GAUGES CYGNUS INSTRUMENTS, INC. PO BOX 6417 • ANNAPOLIS, MD 21401 Tel: 410-267-9771 __ Tp 888-CYGNUS5 (Toll Free) ^^ YO IN U S Fox 410-268-2013 INSTRUMENTS INC E-mail: cygnus@ix.netcom.com www.cygnus-instruments.co.uk Stop by WORKBOAT BOOTH 1931