  LNM 50/77--11/30/77;  A 38 FOOT VESSEL HAS BEEN REPORTED SUNK APPROXIMATELY 1.2 MILES DUE WEST OF PASCAGOULA CHANNEL LT 37 (LLNR 1837) IN APPROXIMATE POSITION 30°18.5'N 80°33.8W (NAD27) IN 10 FEET OF WATER.  FOUR FEET OF THE MAST IS SHOWING ABOVE THE W