Looks like they get salvage rights to the ship.
PS- Many ships wrecked going to San Francisco California. This link, a few examples.
https://www.msn.com/en-us/news/us/u...ee25cfe644f3b3af55f456cf0e3f#image=39iscovery Of Centuries-Old Secrets That Lurked Beneath The Golden Gate Bridge
Accidental Discovery
The only vestige found of the U.S.S. Conestoga, after it departed from Mare Island in California, was its lifeboat. The forlorn little boat was found listlessly floating in the open sea. A hundred years since its mysterious disappearance, the original members of its search and rescue teams have now long since passed on themselves. So, the NOAA researchers were lucky to stumble upon it.
This makes us wonder how many more secrets are still submerged, waiting for inadvertent sonar beams to echo back up the telling contours of buried historical treasures. Hopefully, we won’t have to wait another hundred years for the answer.
300 Estimated Shipwrecks
The influx of hundreds of thousands of gold-seekers had many effects on the city of San Francisco. Sadly, this involved the region seeing many of its indigenous peoples being marginalized. It was a risky venture, but people took their chances on back-breaking work that could open up years’ worth of profit.
This used to be a vital American port for the trade industry. The ship traffic in the area was at its peak during the Gold Rush, despite the channel’s deadly current and strong winds. This explains why so many sunken vessels have been found.
Found Below the Bridge
Researchers can only imagine the new excitement that comes to every traveler dreaming of new beginnings. This joy was infused in the hearts of the ship’s passengers as they neared the bridge, just minutes before the accidental collision that also killed two children.
More than 120 years after that tragic accident, some remains of the sliced-up ship still rest approximately 400 feet below the Golden Gate Bridge. A ghost ship existing in another dimension, this wreck is invisible to the traffic cruising above it. The next famous discovery was the S.S. City of Rio de Janeiro.
Fate of the S.S. City of Chester
The S.S. City of Chester was on its way to the city of Eureka, California, one foggy day when it collided with the R.M.S. Oceanic that was entering the harbor from Hong Kong. Both ships were aware and had sufficient visibility of each other.
However, the City of Chester was carried by the tide beneath it into the incoming ship’s path, and it was cut in half. Oceanic cut into it like a knife through warm butter. Sixteen people aboard the Chester died, despite valiant efforts to save them.
Steamship City of Rio de Janeiro
Early voyagers relied so much on human ability and rudimentary senses capable only of giving approximations when crossing vast oceans or narrow channels. They were highly vulnerable to errors, as the crew of the S.S. City of Rio de Janeiro discovered when they were painfully close to their destination.
Without modern equipment, entry into San Francisco had so many hidden hazards. The fog was dense, an outbound ship could be on a collision course, and the undercurrent and strong winds could be wild even when there wasn’t a storm raging.