Hi jamesw
Mr. Muskoka reporting

Thanks for sharing this cover. This is a beauty. I too have covers addressed to Gustav Lund and also with "Paquebots" markings from around the globe.
I have to admit that this is the first cover I have seen with the "MLN" marking on it.
For some years, for those of us who studied the Muskoka postmarks, it was believed that the Muskoka Lakes Steamer cancellations were 'assigned' to specific' steamers; however, this was not the case. Some years back Linda bumped into a man we both knew that used to be on the steamers and the "Sagamo" ("Big Chief" on Ojibwa) was one of them. She mentioned to him that I was a researcher for the postmarks of the area and he stated to her the following: "These postmarks were NOT assigned to any specific steamer". He then pointed out why, and it made perfect sense - that these hammers were transferred to the different vessels for a variety of reasons such as a mechanical breakdown, inspection, illness or whatever the reason.
Whenever a specific steamer could not be used, the hammer would be transferred to another vessel so that the mail would be properly cancelled for that day of use. So, in other words, your hammer was used on the "Sagamo' on July 7, 1949, but, could also have been used on another steamer - for example the "Segwun" which is also my avatar (Ojibwa for "Springtime") on another date.
Sure is a great cover, and, if you decide to part with it, let me know first

All the best
Chimo
Bujutsu