As the Effie M. Morrissey lay in at the Boat Basin in Flushing, NY on December 2, 1947, a fire of undetermined origin started in the galley and swept through the Morrisseys interior, doing considerable damage before the ship sank under the steady stream of water from the New York Fire Department hoses.
The events quenched this dream of the Jacksons. Interestingly, Melvin Jackson went on to become Curator of Maritime History at the Smithsonian Institution, retiring in 1976. He passed away in 1983 on the day, coincidently, that he was to address the Explorers Club in New York City, about the history and his expedition.
The Morrissey was raised and towed to Rowayton, Connecticut, where Henrique Mendes, a veteran captain in the Cape Verdean packet trade, purchased her for $7,000 and towed her to New Bedford for repairs.