Lake’s Submarine Drive Fueled Bridgeport’s Wealth and War Plans
Mr. Lake built the Argonaut I in 1899 facing ridicule and scarce subscriptions yet persevered to create The Lake Torpedo Boat Company. His Protector and other boats drew Navy interest, then sold abroad to Russia, with officials urging purchases. Bridgeport profits followed, payrolls reaching about $3 million yearly, and the firm’s land purchase boosted local labor and merchants. Now seeking new funding and an English partnership, Lake plans Plant No 1 to recover coal in Long Island Sound, with stock available on installments.
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Philadelphia
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Russia
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The
Housatonic Shipbuilding Company
Eney
Subscription for Argonaut Sal Vage Corp shares
A subscriber binds to purchase Capital Stock of THE ARGONAUT SAL VAGE CORPORATION enclosing cash as a binder. On allotment notification at five dollars per share, the signer agrees to pay the balance in cash or in three equal monthly installments.
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