I show the following vessel assignments for a Herbert Peterson: Second Mate, Adam E. Cornelius, 1943; Second Mate, Dow Chemical, 1944; First Mate, Sinaloa, 1947; First Mate, Dow Chemical, 1948; First Mate, Joseph F. Schoellkopf, 1949; Captain, Standard Portland Cement, 1952; Captain, Sinaloa, 1953; Captain, Fontana, 1954; Captain, George F. Rand, 1955; Captain, George F. Rand, 1956; Captain, George F. Rand, 1957; and Captain Norman J. Kopmeier, 1958. All of these boats were owned and operated by Boland & Cornelius. You can find a photo and other information on these boats at a site hosted by Bowling Green University: http://ul.bgsu.edu/cgi-bin/xvsl2.cgi
I also show the following boat assignments for a Martin S. Peterson: Captain, John N. Nicol, 1905; Captain, Yale, 1906; Captain, Jacob T. Kopp, 1908-1909; Captain, Harry Yates, 1910 - 1927. These boats were also operated by Boland & Cornelius. Information on these boats can also be found at the Bowling Green site.
In addition, I show the following boat assignments for an "M. S. Peterson". These MAY, or MAY NOT be the same Martin S. Peterson: starts sailing, 1882; First Mate, 1897; Captain, 1898; Captain, Northern Wave, 1900 - 1903.
I have some listings for a Thomas J. Peterson (son of Peter Peterson) sailing in the 1895 - 1915 time frame --- but not with Boland & Cornelius.