Page 16: of Maritime Reporter Magazine (July 1971)

U.S. Lines Finances

Two Containerships

With G.E. Credit Corp.

The United States Lines revealed that it has departed from Title XI in financing two recently-commis- sioned additions to its container fleet with General Electric Credit Cor- poration.

The two ships—American Apollo and American Aquarius—were fi- nanced under "first preferred mort- gages" totaling $15 million. The ships are of the "Lancer" class, capable of carrying 1,200 highway-trailer- type containers each at a cruising speed of 23 knots. The loan was also said to be extraordinary in that it covers ships in commission.

The firm of Lehman Bros., Incor- porated of New York, N.Y. were investment bankers in the transaction.

The ships were built by Sun Ship- building and Dry Dock Co., Chester,

Pa.

And of course, sign, above. In H proudly fly the si; meeting all nava

Some of Wortl made in our plar

Denver, Colorado

Wellsville, NewV

Massachusetts a applies to all.

For full infornr write or call the \

Department, Hai

General Electric Credit Corpora- tion implemented the loan via its

Leasing and Industrial Loan organ- ization, the group within the $2-bil- lioti-per-year sales financing company that is charged with major lending and leasing transactions in transpor- tation and industrial equipment.

Both ships are a part of United

States Lines' "Sea Bridge" contain- erized service linking East and West

Coasts of the United States, Europe,

Hawaii, and the Far East with week- e're manufacturing behind the ison, New Jersey. So we can al above, "Made in USA," fully rocurement specs, gton's marine pumps will still be in East Orange, New Jersey and ind along with turbines from <, compressors from Holyoke,

I Buffalo, New York, the signal ion about any of these products, rthington Marine and Government on, N.J. 07029.

RTHINGTON L^-J ly sailings of 16 fast containerships of the Lancer and Leader classes.

The American Apollo made her maiden voyage October 13, 1970, within a month of the launching of the Far Eastern service. The Ameri- can Aquarius made her maiden voy- age March 8, 1971, and is the 16th ship in the line's container fleet, which is the largest of new containerships now in service.

Bailey Names Melick

Manager, Staff Services

J.H. Dennis, president of Bailey*

Meter Company, Wickliffe, Ohio,' has announced the appointment of

L.L. Melick as manager of staff, services. Mr. Melick will report directly to Mr. Dennis.

Mr. Melick succeeds L.F. Rich- ardson, who is retiring. As mana- ger of staff services, Mr. Melick will be responsible for the person- nel, patent, office services, adver- tising and sales promotion, and public relations functions.

Since 1966, Mr. Melick has been general manager of Belfab/Baileyj

Meter Company, a manufacturer of custom welded metal bellows.)

He joined Bailey in 1940, after! earning his B.S.E.E. degree from'

Case Institute of Technology. Hisj experience includes management of several engineering and service departments prior to his appoint- ment to Belfab.

In September 1958, Mr. Melick was granted a 10-month leave of absence from Bailey to serve the

Government in Washington, D.C., as the industry advisor for the in- strument industry in the Business and Defense Services Administra- tion of the Department of Com- merce.

A subsidiary of Babcock & Wil- cox, Bailey Meter Company is a leading manufacturer of instru- mentation and control and com- puter systems for power plant, in- dustrial process, and marine auto- mation.

A.P. St. Phillip Gets

Tentative Approval For

Mortgage & Loan Ins.

A.P. St. Phillip Inc., Tampa, Fla., has obtained tentative approval for mortgage and loan insurance to help finance a $5.5 million tug-barge unit to haul petroleum products from

Texas and Louisiana refineries to

Florida ports.

The barge was said to be of 33,000 deadweight tons and, according to the Maritime Administration, was to be owned jointly by A.P. St. Phillip and the Florida Storage and Pipe- line Corp.

An important signal from a "new" company about its product.

QS WORTHING

I V llNDUSTRIfll

TON MRRINE &

L PRODUCTS, INC.

You can hardly call a company that has over 100 years experience in marine pumps "new". But that is just what this Worthington company is... Worthington

Marine and Industrial Products, Inc. That's our new shingle, above.

We've been established as a separate company by

Worthington primarily to give all our marine customers the specialized attention they deserve on a broad line of marine equipment.

At our headquarters in Harrison, New Jersey, we will continue product engineering and application.

Here we are in direct liaison with the Worthington

Marine and Government Sales Department.

V

L.L. Melick 22 Maritime Reporter/Engineering News