The Syracuse was owned by the Schuyler Steam Towboat Company, founded in 1825 by Captain Samuel Schuyler (1781–1842), a freedman who bore the name of (and was possibly enslaved by) one of New York’s most prominent Dutch colonial families. Although slavery was not completely abolished in New York State until 1827, Albany County records report that an enslaved man by the name of Sam—believed to be Captain Schuyler—purchased his freedom in 1804 for two hundred dollars.

Schuyler was one of the earliest Black business owners in Albany. In addition to operating steamboats, he also owned significant real estate, as well as a flour and feed store anda coal yard. Though unconfirmed, it is believed that his descendants used the company’s ships to carry fugitives from slavery to freedom on the Underground Railroad.