morgan built four large yachts with the name "corsair". the last, "corsair iv", launched in 1930, was 343 feet in length and cost of $2.5 million ($33.3 million in 2011 standards). "corsair iv" was at the time the largest yacht ever built in the us. morgan used her for 10 years before turning her over to the british admiralty in 1940. after world war ii, there was high demand from rich americans for luxury cruises. the skinner and eddy corporation established pacific cruise lines in 1946 and quickly acquired "corsair iv", converting her into a luxury cruise vessel. the new "corsair" (iv was dropped) began service in september 1947 offering two-week cruises out of long beach, california. however, during a cruise to mexico, she struck rock on 12 november 1949 and was beached at acapulco. she can now be explored by divers in the seas off acapulco.