The 391-ton "Waterloo", the first square-rigged ship built at St. Martins (also known as Quaco), New Brunswick., was launched in 1815. Constructed by James Moran, the vessel was owned by timber merchants and shipowners John Ward & Sons, of Saint John. Loyalist John Ward (ca. 1753-1846), who was born in Westchester County, New York, immigrated to New Brunswick with his regiment, the "Loyal Americans," at the end of the Revolutionary War. He became engaged in commercial pursuits there, along with his sons, John (d. 1875), Charles (d. 1882), and Caleb (d. 1821). The family firm was located at the corner of South Wharf and Ward streets for many years. John Ward was also involved in municipal and provincial politics, sitting as an alderman for the city of Saint John, from 1799 to 1809, and later as a member of the House of Assembly for Saint John County and city.

Beginning in 1815, the "Waterloo" was engaged in the timber trade. The ship was captained, on separate occasions, by either Charles Hare (d. 1859) or William Dudne (d. 1865), both master mariners from Saint John, on its voyages to Liverpool, England. John Ward & Sons shipped cargo -- white pine, red pine, birch, deals, staves, deal ends, lathwood, and timber -- that was consigned to either Addison & Bagott or George B. Brown, both of Liverpool. In July 1812, when the disbursment book begins, the ship was on her 8th timber voyage. The 17th and last trip was made in 1826. In that year, the "Waterloo" was sold in Newcastle-upon-Tyne. The ship continued in use until 1852 when it was lost at sea.

Sources: "John Ward," "Dictionary of Canadian Biography" on-line; Esther Clark Wright, "The Ships of St. Martins," and Daniel Johnson, "Vital Statistics from New Brunswick Newspapers".