For some years the Collins Line seemed to have secured the premier position in the Atlantic trade. Its vessels eclipsed the Cunarders in size, speed, and luxury. The company, however, was expensively, almost wastefully, managed, and the steamers were run extravagantly. Great though its income was, its expenditure was greater. At its best the Collins Line never paid a dividend and its fall was hastened by two terrible disasters. Its first great calamity was the loss of the _Arctic_, which was rammed by the French iron steamer _Vesta_ in a very thick fog between sixty and seventy miles from Cape Race. The _Arctic_ was so well built that, although three large holes were torn in her side, through two of which the water poured, no apprehension was felt for her safety, and her captain sent a boat in charge of one of his officers to the other vessel to rescue those on board if necessary. One of the _Vesta’s_ crew was killed in the collision, and several others on board were injured. The rest of the crew and passengers made a rush for her boats and launched two, one of which was swamped; the other was occupied by two of the crew and several passengers, who, disobeying their captain’s orders, cut their boat adrift and were soon lost to sight in the fog. Meanwhile on the _Arctic_ it had been discovered that the steamer was sinking. Preparations were made to save the lives of the passengers and crew by means of the boats. One of the tackles of the first boat to be filled gave way while it was being lowered to the water, and all her occupants, except one sailor who seized the other tackle and a lady who clung to him, were precipitated into the sea and drowned. Among those who lost their lives at this time were Mrs. Collins, the wife of the managing owner, and their son and daughter. The second boat was lowered without mishap and was provisioned and quickly filled with passengers. The water continued to pour into the ship, and she was headed for the nearest port, but in about a quarter of an hour the furnaces were put out. All the other boats but one left the ship, the exception being a large lifeboat which there were not sufficient seamen left on board to launch. This boat is believed to have been filled by passengers, who thought that it might be left afloat when the ship went down. It is probable that it was so crammed that it had no chance of floating, and that it was sucked down with its occupants in the vortex caused by the sinking of the steamer. The loss of life is variously stated. One version is that the _Arctic_ had three hundred and sixty-five persons on board of whom only eighty-seven survived. An American writer, however, states: “The _Arctic_ foundered with two hundred and twelve of her passengers and one hundred and ten of her crew.”[66] The _Vesta_ left St. Peter’s the day before the disaster with one hundred and forty-seven passengers and a crew of fifty, of whom thirteen were reported missing when she reached St. John’s.