387 



contracts with the Federal Aviation Agency in advanced solid state 

 navigation equipment, instrument landing calibration systems, and 

 voice communication transceivers. 



Then we have some strictly military work. 



The company's posture is one that we want to be in the ocean busi- 

 ness but until it develops we are in these related fields as close to the 

 type of business we want to be in, at the same time while waiting we 

 feel these other activities exercise our talents, increase our physical 

 facilities so that when the ocean markets develop we will be ready to 

 capitalize on that. 



Although we do not have the contracts in these fields, we are con- 

 tinuing the research and development and scientific discussions on this 

 with our scientific committee which has on its membership Dr. James 

 A. Van Allen of the University of Iowa, Dr. James Snodgrass of 

 Scripps and Dr. Landweber of the University of Iowa Hydraulics 

 Institute. 



So far, all of our contracts have been with the U.S. Government. 



We do not have any contracts in what I would call the commercial 

 sector, as yet. 



That is a brief sketch of the composition of the company. 



Mr. Drewry. That is what I wanted to get. I was not probing but 

 I wanted to get some idea. 



Mr. Pierce. Thank you. 



Mr. Lenxox. Mr. Pierce, I am advised that industry has invested 

 approximately $100 million in so-called submersibles. 



Is that the figure that you are familiar with ? 



Mr. Pierce. I don't know the exact figure. 



Mr. Lennox. You know it is considerable. 



Mr. Pierce. Yes ; it is considerable. 



Mr. Lenxox. I have an editorial in my hand from a national pub- 

 lication the Undersea Technology magazine to the effect that industry 

 has invested a little over $100 million in submersibles. 



In spite of the plea by the Navy and the Marine Science Council, $3 

 million which was originally in the budget to provide for commercial 

 leasing of submersibles by the Navy to other agencies and laboratories 

 involved in the marine science field, has been cut out. 



Do you know anything about that ? 



Mr. Pierce. I have read about it, I am not familiar with the details 

 and issues and why these funds were cut out. 



Mr. Lexxox. It goes on to say in spite of the fact that the Govern- 

 ment spends approximately $2,500 to $6,000 a day to run its various 

 oceanographic research vessels that this $3 million would make pos- 

 sible for leasing purposes up to 300 or 400 differences by these sub- 

 mersibles to be funded. 



If you find out anything about that, I wish you would supplement it 

 for the record. 



I took the liberty of writing to Secretary Laird about the matter 

 when it was called to my attention. I am going to take the liberty today 

 to insert in the Congressional Record this editorial and the reference 

 to my letter. 



We appreciate your appearance, Mr. Pierce, and particularly your 

 interest in what all of us hope to be some action in the very near future. 



