Interesting.. on the opening title screen, this has "copyright 1939".. which must be the RE-release date. Was originally released in 1931 or so. I've never been let down by an Alan Hale film. He made over 200 films ... probably the hardest working guy in show-biz. Could do anything. Even though it's rated pretty so-so on imdb, it's pretty good. Appears to be a mix of footage of a real ship sinking, combined with filmed studio shots. As we open, the Alatania is sunk, and Captain Winters (Hale) a witness is being tried for neglect of duty. Later... Winter is back on board a salvage ship to find the sunken ship and bring up anything of value. Winters tries to convince Evelyn, the daughter, (Laura LaPlante) that he will help her get back her inheritance. Trickery, guns, back-stabbing, conniving all around. Lots of brawling. Viewers will probably recognize Clarence Wilson as the scheming Mr. Sykes. Because of his appearance, he probably played the underhanded, evil guy much more often than he played a good guy. This creeps along at a snail's pace towards the center, but picks up again right near the end. It's not so bad. Entertaining enough. Directed by William Nigh. He had directed a whole bunch of the Mr. Wong films.