Search For Gold On Sunken Liner Obscures The Story Of Passengers' Rescue LAST MONTH, the last week in June, 1987, a 40 person salvage crew began work on an underwater operation, descending to the sunken wreck of the once sleek ocean liner, Republic, which sank after a collision with the liner, Florida, some 40 miles south of Nantucket. The salvage operator, Martin Bayerle, of Brooklyn, believes his operation will bring up millions in gold coin which has lain in the Republic's hold since she sank on January 23,1909, when the bow of the Florida rammed her amid ships. The story raced across the headlines of the mainland papers, and was covered by the local press with the details included. But, despite the lure of the gold, the real story of the tragic loss of the Republic was in the account of the rescue in the open sea, and the use of wireless to effect that rescue. It was the first celebrated use of wireless to save lives at sea, and it is a part of the Island's history. The Republic, a White Star liner, was a sister ship of the more famous Titanic, and had left New York City only a few hours before, bound for Europe with a group of prestigious passengers. She was 570 feet long and 68 feet across her beam. The Florida was bound into New York from Italy, with 830 immigrants on board. Five people on the Republic died in the collision, but there were no drownings in the ordeal which followed the tremendous impact of the collision. This was due to the alertness of the wireless operators at the 'Sconset station and the heroism of the solitary wireless operator on the Republic, whose name was Jack Binns. The story begins with an account by Jack Irwin, who wrote in the magazine Radio Broadcast in September, 1924; "It was a Friday night, January 23,1909, and I was assigned to the midnight to 8 a.m. watch. There was very little business in the air that night. Events proved that the Republic, due to leave New York at 10 a.m. did not depart until 3 p.m., and was not within range of the SC when I relieved the watch. I occasionally exchang ed messages or signals with the two or three vessels within my zone. There was the Baltic, inbound for New York; about two o'clock there was the Lorraine, 230 miles east of Nantucket...the steamer New York and Furnesia were also coming within range of 'Sconset." It was a bitter cold night. A small coal stove was going its full capaci ty. Irwin dozed and reminisced about his day in Nantucket town. He arose to put some more coal on the fire when he heard something com ing faintly into his head-phones. He listened intently, and suddenly the