Near-surface velocities from a shipborne acoustic Doppler instrument are used together with conductivity-temperature-depth and O2 data to make estimates of geostrophic velocities off of Cape Hatteras. The data set consists of two transects across the Gulf Stream at approximately 73¿ W and 71¿ W made by the R/V Endeavor in August 1982. An inversion technique is applied which makes use of both the acoustic Doppler data and property conservation requirements. The method produces estimates of the absolute flow field across the two sections with formal errors of 1--2 cm/s. At the time of the observations, the net Gulf Stream transports are estimated to be 116¿2¿109 kg/s at 73 ¿W and 161¿4¿109 kg/s at 71¿ W. A southwestward Deep Western Boundary Current transport is estimated at 4¿1¿109 kg/s. Taken together with recent Gulf Stream transport estimates of similar accuracy made in June 1982, the results are in general larger than historical transport estimates in this region. ¿ American Geophysical Union 1988