The schooners <i>Hamilton</i> and <i>Scourge</i>, sunken on the bed of lake Ontario, are described. Details are given of the builders, materials of construction, dimensions, wartime functions, and of the cause and manner of sinking. Salvaging and conservation is justified because of their historical value (technological, maritime and North American history) and for scientific reasons. This is the World's deepest (260 feet) underwater archaeological project and involves the best preserved historical shipwrecks ever discussed. They present a unique challenge to conservators, that of studying them in-situ with sophisticated submarine equipment, computers, sonar system, and stereo-photography. Three stages of the architectural part of the project are planned. The design of the tanks will be based on reported findings by members of the conference. (The March 1983 issue of the <i>National Geographic</i> represents the photographic documentation phase of this project.) See also AATA 21-233.