IRON STEAMBOAT COMPANY Uniform Button – 1900 The Iron Steamboat Company was formed in 1880 and operated seven iron-hulled excursion vessels from New York City. An early advertisement for the fleet boasted "They Cannot Burn – They Will Not Sink". The fleet consisted of the steamboats "CYGNUS", "SIRIUS", "CEPHEUS", "CETUS", "PEGASUS", "PERSEUS" and "TAURUS". Only two of the vessels actually operated as party fishing boats; the "TAURUS" began sailing on a regular schedule to the fishing banks from 1904 until 1919 and in 1933, the "CYGNUS" made a failed attempt to resurrect the large steamboat fishing business. In 1933, the Iron Steamboat Company went bankrupt and all the vessels were sold at auction.