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This announcement appears as a matter of record only $28,000,000 Pacific Far East Line, Inc. Containership Sale and Lease Financing Funds were provided by: CI Transportation Leasing Corporation A subsidiary of Continental Illinois Leasing Corporation Lead Owner Participant Greyhound Leasing & Financial Corporation MDFC Equipment Leasing Corporation A subsidiary of McDonnell Douglas Finance Corporation We initiated this transaction and acted as financial advisor to Pacific Far East Line, Inc. Warburg Paribas Becker Incorporated October. 3977 This announcement appears as a matter of record only. $16,053,000 IOT Corporation through its wholly owned subsidiaries Interstate Marine Transport Co. and Interstate Towing Co. United States Government Guaranteed Ship Financing Bonds Sinking Fund Bonds due 1982,1985,1987 & 1992 We have arranged the placement of these securities with institutional investors to assist in the financing of four tugboats and three tank barges. Warburg Paribas Becker Incorporated September, 1977 CONGRESSMAN MURPHY HONORED — Robert J. Hughes, left, chairman of the board of The New York Towboat & Harbor Carriers Association, is shown presenting a testimonial gavel plaque to Congressman John M. Murphy, right, Chairman of the Merchant Marine & Fisheries Committee of the House of Representatives, at a recent luncheon tendered by the Association to Congressman Murphy, as Harold A. Rei- nauer, center, chairman of the Luncheon Committee, looks on. New England Section Hears Paper On Propeller Design After a social hour and dinner, the first meeting of the fall technical program of the New England Section of The Society of Naval Architects and Marine Engineers was called to order by Section chairman Harry Jackson. He announced the formation of the first student section of SNAME, located at the U.S. Coast Guard Academy, New Lon- don, Conn., and introduced the chairman of the student section, Cadet 1/C Kevin Nugent. The author, Michael Triantafyllou (center), discusses his paper with Harry Jackson, Section chairman (left), and Bob Mende, SNAME secretary. Robert G. Mende, national secretary of SNAME, and Keatinge Keays, chairman for the 1978 Spring Meeting, addressed the sec- tion on the plans and progress of the 1978 Spring Meeting, to be held at the U.S. Coast Guard Academy. The technical paper for the evening was then presented by Michael S. Triantafyllou, a graduate student at M.I.T. He presented a paper entitled "Computer Aided Preliminary Propeller Design, Using the B-Series." A particularly interesting feature of his work was the method for calculating the optimum pitch ratio for a propeller, including con- sideration of shipping routes and expected weather conditions. Furthermore, the calcu- lations included corrections for laminar flow effects encountered when predicting full- scale performance from model test data. Copies of the paper are available from Lt. Comdr. James A. Sanial (USCG), De- partment of Engineering, U.S. Coast Guard Academy, New London, Conn. 06370. 12 Maritime Reporter/Engineering News
