Phil, this is one of those silly tales that collapses when subjected to basic research.
The story says that the distress signals fired by Titanic were seen by a member of the crew of the Allan liner Victorian, which was then bound for Halifax. The crewmember's daughter claimed her father had been telling the story for many years.
The truth is easily found by referring to the sailing and arrival dates of Victorian. She left Liverpool on 12 April. This was a day after Titanic left Queenstown. Liverpool is about 245 miles from Queenstown, so Victorian was giving Titanic a big start. Victorian was of 10,757 GRT and obviously slower than Titanic. There is simply no way she could have been anywhere near Titanic on the night of 14/15 April. She reached Halifax on 20 April. This means that she must have reached the 'corner', at 42N, 47W on 17 April. She would then have turned onto her course for Halifax, which passes well north of the wreck site. Her captain reported that he saw neither bodies nor wreckage. He was aware of the disaster, but did not inform his passengers, as he had no desire to distress them as he picked his way through ice towards Halifax.
The story from National Geographic is in Senan Molony's A Ship Accused, page 228. The voyage of Victorian is described in The New York Times of 21 April 1912 and is also in A Ship Accused.
