Fonds consists of some of the surviving records of William Waterman & Co. of Fogo, Change Islands, and Twillingate, Newfoundland, which concentrate on 1876-1888. The material from Fogo includes ledgers, journals, daybooks and correspondence for the business at Fogo and Change Islands. The correspondence mostly consists of letters and invoices between the company and W. H. Mare, Son and Co., ship brokers of St. John's. The material from Twillingate includes an inventory ledger and an account book "in account with" W. H. Mare, Son and Co.

The fonds is organized in two series by location of the company branches: Fogo, 1874-1919; and Twillingate, 1881-1890.