Thanks to Averil, Joan, Sue, Frances and Liz for wishing to help with my search for more information about the drowning of James McQuiggin in the Bay of Biscay. Today I contacted the Manx Museum, and after a brief bit of confusion, a very helpful Paul Wetherall emailed the image of a newspaper clipping that contained the following information:

Isle of Man Times
9 Dec 1905, page 7
LOCAL NEWS
“MANXMAN DROWNED”.---News has been received in Douglas that the crew of 30 which perished by the foundering of the s.s. Carlo in the Bay of Biscay on November 13th included Mr Jas. McQuiggin, son of Mr Jas. McQuiggin, the popular boatman. The deceased, who was 32 years of age, leaves a widow to mourn his loss.”

So after all these years I finally have the date and the name of his ship! I don't know why my own searches at the iMuseum didn't turn this up, but I'm very, very happy to have it now.

As I've often heard others tell, I have had this information in my hands before - I remember as a child being shown various newspaper clippings by my grandmother, one about James being drowned in the Bay of Biscay, but don't remember reading it or taking much notice.