After watching the video I am quite certain that this is the boat.
I was able to find this picture in the 1912 camp brochure.
http://campidlewild.com/cinewcat/Oldcat/OPg4.html
I am still trying to get more info and I am not quite sure if this is "BABS"
from the story I had heard but I was excited to have found a picture that matches the wreck.
Note the cow or bull silhouette or someone in costume on the stern. Looks like it might have been a parade of some sort as everyone is wearing similar hats.