Page 36: of Maritime Reporter Magazine (April 1969)

N.Y. Metropolitan Section, SNAME, Reviews The Risks Involved In Marine Investments iW n m Officers of New York Metropolitan Section attending the recent meeting were, left to hight: top row, C. D. Hanley, T and R representative: T. Lewis-Jones, publicity com-mittee chairman; M. Macpherson, vice-chairman; W. J. Signed, secretary-treasurer, and R. G. Mende, chairman. Bottom row, N. R. Farmer, meetings committee chairman, and H. J. Karsch, papers committee chairman. The New York Metropolitan Section of The Society of Naval Architects and Marine Engineers heard an interesting paper on capi-tal investment opportunities, at a recent meeting. The paper was pre-pared by Robert F. Klausner, of Esso International-Tanker Depart-ment and was entitled "The Evalu-ation of Risk in Marine Capital In-vestment." The author advised that future costs and revenues in capital in-vestment opportunities can seldom be predicted with certainty. As a result, there is usually some doubt N. Re To Manage Computer Programming At Newport News Nicholas Re Nicholas Re has been named manager of the computer program-ming department at Newport News Shipbuilding and Dry Dock Co., a subsidiary of Tenneco Inc. E. J. Tanner, vice-president-finance and comptroller, announced the new ap-pointment. The computer programming de-partment is a part of the shipyard's newly established computer center, directed by E. T. Prince Jr. Mr. Re, a native of Dowell, 111., received a degree in mathematics in 1961 from Southern Illinois Uni-versity. He is currently working to-ward an MBA degree in data pro-cessing at George Washington Uni-versity. as to the outcome of an investment. The chance that an investment may not prove profitable represents the investor's risk. This paper considered the prob-lems which uncertainty and risk present in the evaluation of capital investments. Several traditional methods of dealing with uncertain-ty and risks are considered and shown to be deficient. A relatively new evaluation technique, which utilizes probability theory and com-puter simulation, is described and its advantages highlighted. From 1961 until 1964, he served as an officer in the United States Air Force. His service career cen-tered on the use and development of computers. In February, 1964, he joined the System Sciences Division of Tech-nical Operations, Inc., in Arlington, Va. Alpine's Pneumolift Can Raise Materials From Ocean Floor A new patented invention is in op-eration, raising sand and gravel from 125-foot to 150-foot depths beneath water surface at rapid and economi-cal rates for use in land reclamation. Invented by Marine Sand and Gravel, Inc., of Lafayette, La., an affiliate of Alpine Geophysical Associates, Inc., the Pneumolift raises sand and gravel at a rate of over 185 cubic yards per hour. Operating on the gas-lift principle, compressed air is injected under low pressure through jets on an inner pipe into the interior of a concentric pipe, forcing material to the surface. Using this technique, no pressuriza-tion of the subsurface formation is required. An important feature of the Pneu-molift is its provision for opening and closing the inlet jets while in position. This prevents the material from developing obstructions and re-sults in a unit which is virtually maintenance free, as well as being easily installed and operated. Injec-tion of high-pressure air is controll-able to achieve optimum manipulation of the sand and gravel. Provision is included for the use of a hydraulic system within the subsurface forma-tion for conditioning and handling the material during operations. Pneumolift is not limited in appli-cation to sand and gravel, but is suit-able for materials such as sewage, sludge, oil sands, minerals, and many other materials which cannot be prop-erly handled by conventional pumping apparatus. The Pneumolift is available for contract work, lease, rental, or license. For more information contact Alpine Geophysical Associates, Inc., 65 Oak Street, Norwood, N.J. 07648. National Metal Appoints Henry E. Henderson To East Coast Office Henry E. Henderson National Metal and Steel Corpor-ation has announced the appoint-ment of Henry E. Henderson as East Coast representative, accord-ing to Phillip M. Hofmann, general sales manager. National Metal, located at 1251 New Dock Street, Terminal Island, Los Angeles Harbor, Calif., is the largest ship dismantling facility on the Pacific. Mr. Henderson will handle East Coast sales for National Metal in the marine machinery replacement market. He is president-elect of the Ma-rine Sales Association and member of the Maritime Association of the Port of New York. Mr. Henderson is also former vice-president of The Marine Pur-chasing Corporation, a subsidiary of Marine Transport Lines. National Metal's New York of-fice will be maintained by Mr. Henderson in the Maritime Ex-change, 80 Broad Street, New York 10004, telephone WHitehall 4-8360. H.O. Penn Machinery Appoints James Burns W. Bedell Morrison, vice-presi-dent, Engine Division, H. O. Penn Machinery Company, Inc., has an-nounced the appointment of James J. Burns as the company's Manhat-tan representative. Mr. Burns suc-ceeds Carl Schuh who is leaving in order to complete requirements for his master's degree. Mr. Burns joined H. O. Penn Machinery Company, Inc., in July, 1966 and was a parts salesman prior to his assignment to the engine di-vision. In his new capacity, he will be responsible for the sale of Cater-pillar marine, industrial, diesel and gas engines, as well as Caterpillar standby and continuous-duty diesel and gas-powered electrical generat-ing sets, and H. O. Penn-designed electrical switchgear. Mr. Burns will be working closely with the Engine Division's supervisor of sales development, Joseph Don-nelly. The new Penn representative is a graduate of New York State Uni-versity, Farmingdale, New York and a member of the New York Athletic Club. Herculite Fabrics Names J.R. Zola Marketing Director J. Richard Zola J. Richard Zola has been named director of marketing for Herculite Protective Fabrics Corp., Newark, N.J., a subsidiary of Eckmar Corp. In addition to his broad market-ing responsibilities at Herculite, Mr. Zola will supervise sales ac-tivities of the company's line of specialty fabric products. Prior to joining Herculite, he served as a manager of sales for the Specialty Chemicals Division of Al-lied Chemical Corp. He had previ-ously held various sales manage-ment positions for other Allied Chemical divisions. The 35-year-old native of Sagi-naw, Mich., graduated from Michi-gan State University in 1956 with a B.A. degree. He is a former army officer. Mr. Zola holds membersEIp in several national professional or-ganizations. Herculite is a leading manufac-turer of specialized laminated and coated fabrics for hospital, mari-time, construction, petroleum and other industrial applications. MarAd Relocates Office Of Atlantic District The Atlantic Coast District of the Maritime Administration has relocat-ed its office in New York City to the new Federal Building at 26 Federal Plaza, New York, N.Y. 10007. The Federal Building is located one block east of Broadway, between Duane and Worth Streets. The telephone numbers of the At-lantic Coast District office remain the same as at the former location, 45 Broadway. 38 Maritime Reporter/Engineering News