I saw this movie as a boy of about ten. That would be mid-fifties. It involves a rescue attempt of a downed sub during a storm. The surface navy manages to locate the sub, get an air hose down, and mark it with a buoy flying a flag. The rescuers are racing against the oncoming storm.
What made this movie so memorable was that on fifties American TV, the good guys always won, and rescues always came through in the nick of time. In this movie, the storm came up and the rescue had to be abandoned. The final shot was a long slow pan out from the buoy, with the flag whipping in the wind.
[ 11. January 2004, 12:40: Message edited by: DB7 ]