This ship was taken over by the navy in 1942 and turned into an aircraft carrier for training pilots on Lake Michigan during WWII. She was cut up in 1947. Google U.S.S. Wolverine.

Is that an early form of graffiti on the platform the people are standing on?

[It's a railroad car, which frequently bore handwritten markings by RR yardmen, though usually in chalk. And graffiti dates back to ancient times.]

As I see from the other shot, this ship was a side wheeler. I'm very curious why designers as late as 1911 would choose to make a ship a paddle wheeler, rather than a screw propeller driven craft. There must have been advantages.

What a great moment in time it would have been for an enterprising pickpocket! I'm surprised that the photographer hasn't captured one.

What a great image! I would like to thank the photographer for such an interesting viewpoint. The spectators watching the event so intently make the picture, rather than get in the way, and are as interesting a subject as the launching of the ship. They help to place the event in history. I wonder if he (or her) felt this at the time? Or that this was the only place they could set up their camera. I suspect the latter, but all the same, a wonderful image. I'm going to remember this next time I'm taking photos and thinking that the crowds are getting in the way of my shot.

I think those people on the boat had the most fun.

I remember seeing quite a few people standing right where that ship is making a splash.

Those hat pins the ladies are sporting could easily be used for knitting, trussing the turkey or—Heavens to Betsy—homicide!