AMERICAN DEPOSITARY RECEIPTS: Finding the Way Forward with a New Finance Facility

by Geoff Uttmark

“For the world, our Country and the Navy,” was the victory pronouncement when USS NAUTILUS (SSN 571) became the first ship to reach 90 degrees north latitude. Commander William Anderson’s log entry at the start of the historic voyage reveals a more humble conviction and determination, since no one in 1958 knew the precise depth of the Arctic Ocean or the thickness of the polar ice cap.

“I believe I am always divinely guided,
I believe I will always take the right course,
I believe God will make a way
Where there is no way.”

For public consumption the daring voyage of NAUTILUS proved the superiority of nuclear powered submarines. But the Top Secret part of the mission was to prove the exactitude of the inertial navigation system – transiting submerged from Pearl Harbor to Groton, CT via the North Pole relying on gyrocompass, computers and sonar. “Finding the way” was an exercise in applied faith and technology. NAUTILUS and her progeny changed defense planning forever, and reaffirmed that new technology drives new strategies and tactics.

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