Business Notes SALES

If nothing else, the 2-in. by 4 1/2-in. advertisement on page 6 of the May 24 Sunday New York Times was intriguing: FOR THE DISCERNING BUYER: SUBMARINE FOR SALE. Offered was a "fully equipped" but "de-armed" submarine capable of carrying 70 passengers and crew, with a cruising range of up to 9,000 miles. Prospective purchasers were invited to mail their inquiries to Box F7266, care of the Times.

Was the ad a hoax? A spokesman for the Times said absolutely not. Since there are so few fully operational subs in existence, many maritime brokers felt sure they would know of the vessel if it were genuine. Argued a spokesman for H. Clarkson, the London ship brokers: "It's absolute nonsense." The U.S. Navy tried unsuccessfully to locate the sub's owner. By week's end the owner of the mystery vessel -- was it Captain Nemo? -- had not yet surfaced.