Portable marker buoy

A portable marker buoy apparatus comprising a float means having upper and lower ends and a generally central vertical axis, an anchor line dispensing means including a frame member having upper and lower connector portions, said upper connector portion being removably mounted to said lower end of said buoy so that said anchor line dispensing means is in substantial axial alignment therewith, said anchor line dispensing means including a reel assembly rotatably carried by said frame member, an anchor line normally wound around said reel assembly, control means carried by said frame member for restricting the rotation of said reel assembly with respect to said frame member to control the deployment of said anchor line therefrom, said reel assembly including a central spool having at least one annular flange extending perpendicular thereto, said annular flange having a plurality of notches formed in generally equally spaced relationship around the outer periphery thereof, said control means including generally flexible latch means having an outer end, means for mounting said latch means to said frame member so that said outer end thereof extends downwardly into said notches in said one of said annular flanges, said outer end of said latch means being flexible to permit controlled rotation of said reel assembly, an elongated tubular weight assembly removably mounted to said lower connector portion of said frame member of said anchor line dispensing means so as to be generally axially aligned with and spaced from said float means, said anchor line extending through said weight assembly, at least one elongated vertically extending pole means mounted to said upper end of said float means and extending generally axially thereto, a signal means carried by said pole means.