Thank you for replying Frances and Mary.
I am not sure that the schooner was finally a wreck.
The newspaper report says inter alia "The wind was S.S.E. at the time, and there was a heavy sea in the bay, and the schooner commenced almost immediately to drag her anchor. Unfortunately at this moment the wheel chain snapped, and all control of the vessel was lost, and after some little time she drifted into the space between the two piers."

One of the harbour boats rescued the crew and the captain then requested assistance to secure the schooner, which was refused because of the precarious situation.
He then arranged for some of the harbour boatmen to assist him leading to the loss of life.
Whether the vessel became a wreck is not referred to in the Derby Mercury report.
The report is dated 23/12/1868, a Wednesday, and refers to the incident being "on Saturday night", as the burials are recorded during the previous week I suspect that there was some delay in the report reaching Derby and the Saturday was actually 12th December.
Peter
Melbourne