The nonlinear programming 'SUMT' was applied to the hull form design problem with minimum resistance and Michell's theory was employed as wave resistance formula in the previous report. In the present report the low speed theory is introduced instead of Michell's formula. For the complexity of the formula based on the low speed theory, many approximate treatments must be used in the optimization process by SUMT. Numerical examples are given under the same constraints as in the previous report. Model tests of hull forms designed by the procedures of 1st and 2nd reports involving the towing test and the wave pattern analysis are carried out to verify the validity of the hull form design method by means of nonlinear programming.