My guess is that they have the Old Town canoe with serial number 118794. This is an 18 foot long, AA grade, Otca model with Western red cedar planking, open mahogany gunwales, mahogany decks, a keel, outside stems, a floor rack, and a bang plate on the full length of the keel. It was built between August, 1936 and March, 1937. The original exterior paint color was white. It was shipped on April 15th, 1937 to Ishpeming, Michigan. A scan of this build record can be found by following the link at the attached thumbnail image below.
This scan and several hundred thousand others were created with substantial grants from the Wooden Canoe Heritage Association (WCHA) and others as you probably know well. A description of the project to preserve these records is available at
http://www.wcha.org/ot_records/ if you want more details. I hope that you will join or renew your membership to the WCHA so that services like this can continue. See
http://www.wcha.org/wcha/ to learn more about the WCHA and
http://www.wcha.org/join.php to join.
The Old Town numeral one can easily be confused with a "7", an "I", or a "T" in some cases. People often measure a canoe from tip to tip and don't account for the extra curve of the stems so this may explain the lost foot. It is also possible that they could have another number or manufacturer if this description don't match the canoe. Feel free to reply here if you have any other questions.
Benson