RedactedNarrative: Owner operator states he had bought the vessel earlier in the year and was advised by the previous owner that the stringers needed to be replaced. He further states that the vessel had been in the shop for two months getting the stringers replaced. He states that he had the vessel out the day before for about 3 hours. When he took the vessel out the day of the accident, the vessel seemed to be lugging down. He states that he noticed he was taking on water so he turned on the bilge pumps and that they were working but could not keep up and the vessel sank before he could get to shore.  Area of the accident was approx 1.4 miles nw of the main span of the railroad bridge and approx 1.8 miles se of the roosevelt bridge and approx 300 yrs east of ou cove.