PADDLE-FOOTING through blue-green waters off the Bahamas, these submarine spearmen are demonstrating one of the fastest growing of modern sports. Since the end of World War II, the number of spearfishing addicts in the U.S. alone has grown to almost 1,000,000. The sport has spread, from the Mediterranean, where it started, as far south as Latin America and the coral shoals of Australia's Great Barrier Reef. Alone, in pairs, or as members of spearfishing clubs (there are close to 100 in the U.S. today), skin divers take goggle-eyed aim at everything with fins. Last year a three-man team of Florida Association...

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