192 
The importance of these minerals to the economy of the United States does 
not require elaboration. It has been effectively expressed to the Congress by 
the Executive Branch. 
For your information, the capital stock of Deepsea is at present wholly owned 
by nationals of the United States. Ninety per cent thereof is owned by Tenneco 
Corporation, a Delaware corporation, and the other ten percent is owned by 
individuals, all of whom are United States citizens. At this date stock options 
are outstanding which, if all are exercised, will result in acquisition of the follow- 
ing percentages of ownership of Deepsea’s capital stock by others: 
23.75 percent: Essex Iron Company, a New Jersey corporation, a wholly owned 
subsidiary of United States Steel Corporation, a Delaware corporation. 
23.75 percent: Union Mines Inc., a Maryland corporation, a wholly owned sub- 
sidiary of Union Miniere, S.A., a Belgian corporation. 
23.75 percent: Japan Manganese Nodule Development Co., Ltd., a Japanese 
corporation. 
Respectfully, 
DEEPSEA VENTURES, INC.” 
2The Notice was signed by John E. Flipse, President, and Northeutt Ely, L. F. E. 
Goldie, and R. J. Greenwald, as Counsel. The signature of the President was duly 
notarized. 
