The Bridgeport evening farmer., 1913-11-18

cleaning up of wheat field rather
 than the unsystenatic haphazard way
 of gathering the oysters at present in
 vogue where surface vessels are used
 to drag dredges over the bottom.
 These dredges are thrown overheard
 and dragged over the bottom until the
 operator guesses they are full, and
 then hauled up and dumped and
 thrown overheard again, the vessel meantime moving over the ground. It Is a sort of grab in the dark method, and the ground must be raked over
 backwards and forwards and cross ways many times to get the oysters. This injures the ground and oysters, and it is practically impossible to cover all the ground in this manner, and it is only customary to continue this method as long as the quantity caught will pay a profit leaving thou sands of bushels on the grounds. By our system we only go over the ground once, as a reaper goes over the wheat field, and the oysters are collected directly under the observa- ton of the operator, and may be in spected and cultivated, and all starf1sh and other enemies removed, irrespec- tive of depth, as readily as if they were lying in water only few inches deep.
 Our submarine apparatus for To- eating and recovering sunken vessels and their cargoes, for hydro graphic work in laying off accurate soundings, in a rapid and reliable manner, sub marine apparatus for pearl and sponge fishing, and various other kinds of submarine engineering work will undoubtedly be largely used in the near future.
 "In my opinion the possibilities of the submarine in the commercial line will bring about as important changes in certain industries as its advent has into naval warfare. Very few people realize how important the introduc- ton of the submarine into naval war fare has been In 1899 when the
 writer first brought the 'Argonaut' the first submarine to operate successfully in the open sea to Bridgeport, only two important countries were experi- mentfng with submarine torpedo boats Now all the important coun tries are building them, and the ap- propriations made by the different countries last year approximated S30y- OO0,00 and the next war between naval powers will undoubtedly prove their great value, especially for de- fensive purposes.
 -'To provide for this future develop ment the company recently purchased about 12 acres of additional land on Johnson's River, giving us about IT acres with a waterfront of about 2,2O0 feet. This will provide sufficient land to lay down other classes of vessels, such as destroyers, gun boats. tug boats, revenue cutters, and small coast1ng vessels, if it should be con sidered desirable to go in for this class of work. The company would be particularly we'll qualified to under take this class of work, as it has re- gently engaged the services, as gen eraI manager, Of MT. R. H. M. Robin  U. s. Navy, who had charge of the construction of the batt1eship Connec- ticut at the Brooklyn Navy Yard, and since then has had charge at the Navy Department in Washington of the de- sign of all our recent battIeships, and destroyers. MT. Robin son had charge of the design of the Soc Carolina, Michigan, Delaware, No. Dakota, Florida, Utah, Wyoming, New York, Texas, Nevada 1 and Oklahoma, his last vessel being | the batt1esh1p Pennsylvania. which is | the last word in dreadnaughts. He all l SO designed about all our modern de- | stroyers from IF to 56 and numerous l colliers, gun boats, etc.
 ''The plant at the present time occu- pies about IT acres, and when the l m proVements now under way are will be able to complete ,u b1n arine torpedo boats at the rate of about four per year
 The cost of submarines are con 'tantly increasing, owing to the de- nand for increased size, higher speeds, increased radius of action, and nore powerful armament. The boats 1f a decade ago cost about $250,0O0 ,ach, while the prices now range from '5OO,oOO to $60O,O0O each, and will reach $1,O0O.OOO within the lext two or three years.
 ,f<,- n%aIx he l however, the present tight money market has made it difficult to raise he necessary funds to finance these arge orders. Banks and large fnan- 1 ial houses are apparently hoardtns ( heir funds for fear of currency 1egis- ation, which they state they fear will ,e adverse to their interests; that, ; where in ordinary times there would Z e no difficulty in raising the required ] apital to carry on these Governme , ontracts because the Government is ; Iways good pay, under the present onditions, banks will not loan their I unds, even on the best of security; we are compelled to offer 1 UT securities direct to the people to ; nab1e us to carry on the contracts ere at Bridgeport, or else allow the l to become forfeited or put : hem out elsewhere. to other ship I ards, which means the abandonment f our plans for building up a great ( industry here.
 '@The company recently decided to ay off all it's outstanding unsecured and reorganize with an in rease in capital stock to enable it to 5sue preferred securities to improve he plant, and afford working capital Q handle it's new contracts to the est advantage. About $1OO,OOo is eeded to handle to advantage it's resent contracts, and about S10O,O0O dditiona1 to handle new business mich 1t believes it can secure with
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