The Derrick Barge was built in 1925 for dredging, lock repair and lifting heavy boats on the Barge Canal system. Power came from a steam boiler engine manufactured by the Ames Ironworks company of Oswego. The Barge's long, triangulated derrick was capable of lifting 150 tons.
Following 60 years of service, the Barge was retired and donated to the Museum in 1984 by the New York State Department of Transportation. Shortly after its arrival in Oswego in January 1985, it sank in a severe winter storm.
The Barge was rechristened the "Lance Knapp" at its reopening dedication ceremony in 1990.