A beautiful medium clipper of iron, Pegasus and her identical sister ship, Reliance, were built in 1884 for Charles W. Corsar , a leading canvas maker of Liverpool. They sailed the world's oceans, carrying British goods to the east and west coasts of America, and from there buying the raw materials of lumber, coal and nitrate for transport and trade to the South Pacific colonies. They would then visit the exotic ports of the far East, and return the teas, silvers, furniture and materials of the Orient to Liverpool. Pegasus held to this circuit for nearly 30 years.

The uncredited Chinese artist who created this portrait did a masterful job, showing her strengths of a full-bodied rake with the canvas full and flags on display, including her international merchant code flags exactly performed. Although owned by Cosar & Sons with their prominent houseflag and beautiful carved pegasus figurehead, the ships were managed for their interest by W.T. Dixon & Sons of Liverpool, who were connected to brokers and ports all over the world. She measured 314’l x 42’3"b x 24’9"d at 2564 tons.

The prominence of the four-masted barks is accentuated with the six-courses of sail on the fore, main and mizzen masts. Pegasus and Reliance were the first ships ever built and recorded with their officers quarters located midship, and the bright fine hardwood of their construction stands out on this painting of superb coloration. Pegasus sailed until 1912, when a storm ran her onto market island in the Gulf of Bothnia. Her load of Scandinavian lumber helped keep her afloat, and she made her last stop at the Baltic Sea port of revel under tow.