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The Eliza Fraser story
The Macquarie Dictionary says the island is named after Captain James Fraser who was murdered in 1836 after his ship, the Stirling Castle, ran aground north of the island.
The more commonly told story is that the island is named after the captain's wife, Eliza Fraser, who survived the shipwreck and managed to find her way south. She was taken in by the island's Aboriginal Butchulla people and cared for until finally rescued two months after the Stirling Castle disaster. When timber cutters moved into the island, the Butchulla people were driven out and into missions on the mainland.