Yep....And the paddles at school had several holes drilled through them to cut down on wind resistance.
They also had large screws in the side for added weight.
Speed holes!
When I was in 7th grade woodshop we had contest to see who could make the best paddle for a science teacher who had no problem with using it. 3ft. long w/air holes. The shop teacher considered it a good way for us to hone our skills.
Ah...the good old days.