Court of Appeals for the Fifth Circuit February 27, 1975, No. 74-1540 (Platoro Ltd. v. Unidentified Remains of a Vessel)

THORNBERRY, Circuit Judge:

In 1555 several Spanish vessels sank off the coast of Padre Island, Texas, in the Gulf of Mexico during a hurricane. The wreckage remained there practically undisturbed until September 9, 1967.1 *1115On that date Platoro Limited, Inc., an Indiana corporation, began operations to recover the remains of the vessels.