San Francisco’s deadliest shipwreck

History in Orbit has an article about a twentieth-century shipwreck:

The City of Rio de Janeiro (photo), a steamship of roughly two hundred passengers and crew members, was nearing its home port of San Francisco, California when it was engulfed in fog and collided with rocks on 22 February 1901. This catastrophe, which historians call the Titanic of the Golden Gate, killed hundreds instantly. Over a hundred years after the crash, the shipwreck discovered at the bottom of the Golden Gate Bridge was finally identified as the sunken SS City of Rio de Janeiro.
The City of Rio De Janeiro was built in 1878. and the 345-foot ship spent its early years as a shipping line for the United States & Brazil Mail Steamship Company. When this proved to not be as profitable as expected, the ship was sold to the Pacific Mail Steamship Company as an ocean liner to travel to i, Hawai'i, Yokohama, Japan and Hong Kong, China, then back to its home port of San Francisco.
On its final journey, the City of Rio de Janeiro had Chinese and Japanese immigrants on board that were just miles away from greeting San Francisco and the new lives ahead of them. Around 4 am that fateful morning, the heavy fog had reduced the ship’s visibility to zero, and it drifted too far south of its home port. Upon crashing into the jagged rocks that ripped open a huge portion underneath the vessel, the City of Rio de Janeiro flooded instantly.
Since it was built in 1878, the ship’s bulkheads weren’t airtight, so the ship was able to sink in a mere ten minutes after striking the rocks. Launching lifeboats also proved to be a difficult task, as most of the officers were English-speaking Americans, and the seamen were non-English-speaking Chinese. Only a couple of the lifeboats were successfully launched and only eight passengers were saved, while others were asleep in the cabins below and drowned. Over a hundred lives were lost and many more were injured, making this shipwreck the deadliest one in San Francisco history.
Following the crash, many searched yet failed to discover the wreckage due to the depth of the water in the Bay, but for some years, bodies continually washed up on the shores of Fort Point and debris, including a wooden keg labeled Rio de Janeiro, was discovered along the coasts of northern California.
In 1987, a group of five commercial explorers, including Gus Cafcalas, a San Francisco-area mortgage banker, discovered what they believed to the wreck with the help of sonar technology. They made plans to reach the wreckage hoping to find the rumored cargo of silver inside the ship. Raising and retrieving the ship was impossible due to its decaying condition so they applied for a salvage permit authorizing them permission to investigate the ship. Unfortunately, they didn’t meet the conditions, and the authorization for a permit was revoked in 1990.
Recently, the National Oceanic and Atmospheric Administration (NOAA) that charts seafloors began their own two-year project of documenting the two hundred shipwrecks around the Golden Gate Bridge using 3-D sonar technology, and they confirmed that they wreckage that the commercial explorers found in 1987 was, in fact, the City of Rio De Janeiro. As of right now, NOAA is still mapping the wreck, and there are no plans to salvage the ship.

Rico says they wouldn't find much of value anyway...