From the start the Warrior was a hard luck ship. Instead of profits she brought her owner losses. The construction cost in newspaper reports was $50,000, financed by the Pictou Bank, a locally controlled institution for over a decade. It so happened that the Director of the Bank was also the Warrior's builder, James Kitchin. By 1886, it was well known that the Pictou Bank's financial position was uncertain and it was common gossip in the area that Kitchin owed the bank $70,000.    The ship was badly damaged at sea, and newspapers reported an insurance company refused to accept a $30,000 claim to make good the damage.The press reported Kitchin's total liabilities to be $100,000, but a fortnight later the editors were correcting themselves, publishing that all creditors were fully secured, the liabilities were less than $100,000, and the insurance on the damaged Warrior had been paid.