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Officially: Charles R. Flint Arrow 45.06 Spring 1903 Hudson River, NY

but I believe a South African guy has exceeded this recently.

and it depends on whether you are talking reciprocating or turbine. If the latter I would guess that there is a good chance that some classified nuclear/steam turbine navel vessel would hold the title.

For all out speed though the British A class tethered model hydroplanes have exceeded 120mph!

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