In mid August 1843, an inquest was held in Berwick into the death of William Milne, one of the passengers on board the PEGASUS, whose body had been found floating in the water near Holy Island.

As part of the inquest, the jury investigated the events leading up to the wreck of the PEGASUS and the conduct of the captain and the crew. Evidence was heard from William Hood, engineer; Daniel Campbell, fireman; William Brown, mate and from Ralph Mossman, master of the RAPID who often followed the same route through the Fairway and the Farnes. After hearing the evidence, the jury agreed the following verdict “That the persons on whose bodies they had held an inquests had met with an accidental death occasioned by the gross negligence of the captain and those on the look-out of the vessel on board of which they were “
The local newspaper, Berwick Advertiser, published detailed accounts of the inquest into the death of William Milne, including the statements of the witnesses.