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This treasure is the ship itself

When Argentina and Britain went to war over the Falklands, Fred Yarlouris went to his typewriter. The Harvard-trained archaeologist fired off letters to officials of both countries, asking them to spare the hull of what may be the last 19th-Century wooden clipper ship in the world - which lies half submerged and rotting in Stanley Harbor.

The ship wasn't damaged in the fighting, and now Mr. Yarlouris is gearing up to lead a five-member archaeological team to begin salvaging the ship in February. By 1986, he plans to bring what remains of the clipper Snow Squall to a new museum in South Portland, Maine, where the ship was constructed in 1851.

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The price tag on the project is estimated at close to $250,000 - at least $ 100,000 of which will pay for moving the ship to Maine. Yarlouris says funding from a private New York foundation will pay for the first expedition in February. Beyond that, financing will be sought one year at a time.

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