The settlement of the Ohio Company's purchase commenced in April 1788, when they planted the colony of Marietta at the junction of the Ohio and Muskingum Rivers.[202] By the end of the year about 300 persons had settled in Marietta, and aside from these there was not a single white family within the present bounds of Ohio.[203] In 1795 the town contained about 200 wooden houses, and was protected from theattacks of the Indians by soldiers stationed there. From 1790-1795 the Indians were very troublesome and stole a great number of horses from the settlers.[204] The population, at this time, was composed of five or six hundred families from New England and a few unfortunate French families, the victims of American land speculators, and of the ignorance of the chiefs of the Scioto Company.[205] As early as the year 1798 or 1799 Commodore Preble built a brig of 120 tons at this place, which probably was the first sea vessel launched in the western waters.[206] "The inhabitants of Marietta were the first that had an idea of exporting directly to the Carribee Islands the produce of the country, in a vessel built in their own town, which they sent to Jamaica. The success which crowned this first attempt excited such emulation among the inhabitants of that part of the western country, that several new vessels were launched at Pittsburg and Louisville, and expedited to the Isles, or to New York and Philadelphia."[207] The ship yard at Marietta was on the Muskingum, and there in 1803 was built the brig "Mary Avery" of 130 tons.[208] The ship building industry increased; ships completely equipped for sea at $50 a ton, brigs, schooners,[209] and bun boats[210] were built at Marietta in 1807. Schultz says, "Ship building is carried on here with more spirit than any other town on the Ohio."[211] From 1801-1808 ship building was carried on with great spirit at Marietta, not less than 20 ships, brigs, and schooners, from 150 to 450 tons being built, besides some gun boats.[212] The embargo of 1808 overwhelmed several of these merchants with ruin, especially such as had ships on hand unsold. One man who had a ship in New Orleans at the time lost $10,000 on her and the cargo. No town in the United States suffered so much as this, according to its capital. Three extensive rope walks, working up large quantities of hemp raised in the country, and furnishing rigging for the ships, were put out of employ, and in a few years fell into ruins. The business of the town did not revive for many years.[213]