 Most of this was used to help the dependants of the men lost, but some of the money was used to erect memorials to commemorate the men who lost their lives.In Southport the Lifeboat Memorial was built in the cemetery, and another memorial was built on the Promenade.This memorial is in the form of an obelisk, and in addition to commemorating the loss of the "Eliza Fernley", it commemorates the launching of its successor in 1888, the "Edith and Anne", the achievements of two earlier lifeboats, and the Golden Jubilee of Queen Victoria in 1887.