On Saturday, April 7, 1907, a huge crowd gathered at one of the docks in St. Petersburg, eager to board the last steamboat to return home. Despite a ban on overcrowding, the crew of Alexander Shchitov's steamboat company violated this rule and took aboard everyone who wanted to board. The weather was extremely unfavorable: strong winds were blowing, heavy snow was falling, and visibility was poor. In such conditions, the steamboat 'Arkhangelsk' collided with a large ice floe.

The impact was so strong that the vessel was propelled onto the ice floe and came to a stop. As a result, the propeller broke off, and the steamboat began to rapidly tilt to the right, quickly sinking thereafter. Passengers who found themselves in the icy water tried to save themselves, but many drowned, clinging to one another. Some managed to survive by climbing onto debris. In the end, more than 60 people perished, with only 13 surviving.

After the tragedy, under public pressure, a detailed investigation was launched. It was revealed that complaints had already been made against the owner of the company, Alexander Shchitov, but they had not been properly addressed. The 'Arkhangelsk' should not have set sail, as the weight of its roof exceeded that of the hull, leading to its rapid capsizing. However, Shchitov believed that nothing would happen during the short journey. An additional cause of the tragedy was the overload, as the vessel was not designed for such a mass of cargo and passengers.

Emperor Nicholas II was informed about the loss of life and donated 5,000 rubles to the families of the deceased. All victims were buried in a mass grave at the Bolshaya Okhta Cemetery. The court found the crew of the steamboat guilty, while Shchitov received only a hefty fine.