Page 7: of Maritime Reporter Magazine (October 1977)

Chesapeake Corporation

Names Elmer Curfman

Marine Superintendent

Elmer W. Curfman

Elmer W. Curfman has been named superintendent of the ma- rine department of The Chesa- peake Corporation of Virginia,

West Point, Va. 23181, succeed- ing the late Milton A. Paul.

The announcement was made by Thomas G. Harris, vice presi- dent-woodlands of the corpora- tion. Mr. Curfman will be in charge of the tug and barge fleet that moves pulpwood, chips and other materials by water to or from the pulp and paper mill at

West Point.

A native of Mathews, Va., Mr.

Curfman graduated from Lee-

Jackson High School there in 1935. He went to work soon af- terward for Bristow Brothers

Truck Lines, one of the earliest motor freight lines in Virginia.

He was the firm's terminal man- ager.

In 1942-45, he served with the 12th Air Force in the European

Theater, rising to technical ser- geant, and being decorated with the Bronze Star.

Mr. Curfman joined The Chesa- peake Corporation in 1946, and has been continuously in the ma- rine department. He was pro- moted to lead man in the depart- ment in 1960.

Drilling Systems

Merged Into Houston

Systems Manufacturing

W.F. Haley, the president of

Houston Systems Manufacturing

Co., 4300 Dixie Drive, P.O. Box 14551, Houston, Texas 77021, has announced that Drilling Systems

International, Inc., an engineer- ing firm specializing in systems for the offshore petroleum and maritime industries, has been merged into Houston Systems.

According to Mr. Haley, "The business purpose of this combi- nation is to provide HSMC access to Drilling Systems' engineering expertise, patents and develop- mental progress in the field of constant tension and motion com- pensation devices, both active and passive." Mr. Haley further stated that HSMC is itself investigating applications of this equipment for the offshore drilling and produc- tion industries. These applica- tions include hoisting systems, especially in hostile offshore en- vironments, and towing systems for oceangoing tugs.

Houston Systems, with head- quarters in Houston, is a leader in the design and manufacture of onshore and offshore drilling equipment, offshore platforms, drilling and production modules, marine cranes, special lift and handling systems and other large, specialized hydraulic systems for energy-related industries world- wide.

MarAd Study Contract

To DeLaval Turbine

The Maritime Administration has awarded a $98,255 fixed-price contract to DeLaval Turbine Com- pany, Trenton, N.J., to evaluate the impact of increased astern power requirements on steam- turbine propulsion machinery.

U.S.-flag merchant vessels are customarily provided with back- ing power equal to 80 percent of the ahead torque. Model studies indicate that increasing this pow- er will improve the stopping dis- tance and maneuvering capability of a vessel. The purpose of the

MarAd study will be to determine the influence of increased astern power on the design and cost, in- cluding increased fuel consump- tion, of typical marine steam- turbine powerplant equipment.

This advertisement is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

The offering is made only by the Offering Circular.

September, 1977 $43,121,000

United States Government Guaranteed

Ship Financing Bonds issued by

American Export Lines, Inc. $17,450,000 7.95% Sinking Fund Bonds, Series I, due no later than December 1, 2006 $17,450,000 7.95% Sinking Fund Bonds, Series II, due no later than December 1, 2006 $4,148,000 7.75% Sinking Fund Bonds, Young America Series, due September 26,1994 $4,073,000 7.75% Sinking Fund Bonds, Red Jacket Series, due September 26,1994

Payment of principal and interest will be guaranteed by the United States of America under Title XI of the Merchant

Marine Act, 1936, as amended, which expressly provides that: "The full faith and credit of the United States is pledged to the payment of all guarantees made under this title with respect to both principal and interest, including interest, as may be provided for in the guarantee, accruing between the date of default under a guaranteed obligation and the payment in full of the guarantee."

Price 100% (Interest accrues from date of issue)

Copies of the Offering Circular may be obtained in any State in which this announcement is circulated from only such of the undenvriters, including the undersigned, as may lawfully offer these securities in such State.

Warburg Paribas Becker

Incorporated

Bache Halsey Stuart Shields The First Boston Corporation Blyth Eastman Dillon & Co.

Incorporated Incorporated

Dillon, Read & Co. Inc. Donaldson, Lufkin & Jenrette Drexel Burnham Lambert

Securities Corporation Incorporated

Goldman, Sachs & Co. Hornblower, Weeks, Noyes & Trask

Incorporated

E. F. Hutton & Company Inc. Kidder, Peabody & Co. KuhnLoeb&Co.

Incorporated Incorporated

Lazard Freres & Co. Lehman Brothers Loeb Rhoades & Co. Inc.

Incorporated

Merrill Lynch, Pierce, Fenner & Smith Paine, Webber, Jackson & Curtis

Incorporated Incorporated

Reynolds Securities Inc. Salomon Brothers Smith Barney, Harris Upham & Co.

Incorporated

Wertheim & Co., Inc. White, Weld & Co. Dean Witter & Co.

Incorporated Incorporated

October 1, 1977 15