The steamer F. & P.M. No.1 was named after the Flint and Pere Marquette Railroad; the original owner of the vessel. It could be propelled by both steam and sail; it could carry up to 20,000 bushels of grain in the hold, package freight between decks and had accommodations for 25 passengers on the main deck. The ship would steam between Milwaukee, Wisconsin, and Ludington, Michigan, taking shipments straight from rail cars in one place to rail cars in the other (called "break bulk" freight). On December 3, 1884, F. & P.M. No.1 struck a sandbar outside of Ludington harbor at full speed. A nearby life-saving station keeper mustered his old crew quickly in order to assist the ship. The steamer was pulled into the pier, allowing the passengers to escape, but could not go into harbor without fear of it being broken due to weather. The captain chose to scuttle the ship to prevent further damage.

The F. & P.M. No.1 was raised as quickly as possible and taken to Milwaukee for repairs totaling in $35,000. On the morning of Apr 5, 1888, the ship's machinery became disabled just outside of Ludington; the life-saving crew sent a tug that safely towed the ship to the dock. On December 10 of the same year the vessel was hit by strong gale and hit the bottom just west of the Ludington life-saving station. In 1899 it was sold to the Barry Brothers Transportation Company and was renamed to the Wisconsin in 1906. The ship was sold again to Northern Michigan Transportation Company in 1909 after the Transportation Company failed. In 1919 it was refitted as a tow barge. The barge was purchased by a Thomas Fin of Marinette, Wisconsin, in 1923 at an auction, who used the ship in the pulpwood trade.
In 1935 the Wisconsin was abandoned by its owner, Thomas Finn, and allowed to rest partially submerged at her dock in Marinette harbor. Because it became an obstruction to navigation, the government paid Captain Gallagher to tow it out to deep water off the south end of Green Island and scuttle it. A picnic was arranged and people were ferried out to Green Island to witness the Wisconsin burning to the waterline and sinking.
The Wisconsin was burned to the waterline at the time of scuttling. Remains are bilges, steel frames & spikes of hull forming a "rib cage", the anchor chain (piled at the bow end), the rudder (attached to the stern), bilge pumps and other machinery. The wreck lies in 85 feet of water.