Here is an account of the sinking of the Bismark Sea (CVE-95) off the coast of Iwo Jima:
"The first bomb struck the aft hangar deck and set the elevator well on fire. The ship's CO sped the orders along to fight the fire. The firefighting parties worked hard trying to extinguish it. To the tall, gray-haired skipper it looked as if they would succeed, but the second place snarled the works...[when] he was told that four torpedoes were knocked loose from their storage and lying the fire, and five other were on the edge of it. Immediately he ordered to abandon ship. Life rafts were cut loose. Hundreds of men adjusted their life jackets and jumped into the wind-chilled waters."