The Meridian, valued at only $1,000 and insured for $700, was one of several marine accidents attributed to the storm, and her loss attracted little notice in area newspapers. Despite a C1 insurance rating and considerable storm damage, at least three attempts were made in mid-November to pull the ship free of the rocks. All failed.

More than 100 years of Green Bay storms and winter ice slowly broke up the schooner into her present state. The Maritime Preservation and Archaeology Program of the Wisconsin Historical Society surveyed the Meridian over the course of four days in July of 1991. Initial reconnaissance revealed that the vessel had broken into three major sections. Archaeologists surveyed each wreckage section. Then they drafted measured sketches of the entire site, including detailed drawings of the complex bow structure. Still photography and underwater video further supplemented the sketches.