_The losses of ships which have been employed in the Filipinas trade,
and the cause thereof._
Through news brought by the ship "Santa Potenciana" in the year
601, it seems that the ships "San Geronimo," and "Santa Margarita,"
which sailed in the year 600, lost their masts in a storm; and the
"Santa Margarita" drifted to the island of the Ladrones, and the
"San Geronimo" to Luzon, near Catanduanes. Both were driven ashore
in February, 601, without being able to save themselves. This loss
is attributed by some to disagreement among the officers, and by
others to the late sailing of the ships, and to a lack of sailors,
and (what is more nearly correct) to the general overloading of the
vessels. The ship "Santo Tomas" was lost also on the voyage out, near
the channel at Catanduanes; the hulk was lost with some supplies,
small wares, and two millions or more of silver, besides the 500,000
pesos which were allowed to be carried.