The Bridgeport evening farmer., 1913-11-25

WOI10-W1QG lame ana Is a IIlSIIlOC1- OA the societies of naval architects of the United States. of England and of Ger many and a member of the American Society of Mechanical Engineers. His fame has been added to through his
 origination of the even keel type of submarines
 B The business and property of the concern comprises, among other
 things, the following:
 s 1. United States Navy contracts
 aggregating $1,655,0 900 ready to start work on when this company is fully
 organized with sufficient funds for working capital and plant extensions Sto handle the increasing business.
 2 [, acres of Bridgeport, Conn, land with a water front of about 2, 200 feetfand having thereon a shipbuilding
 plant for submarine torpedo boats and commercial vessels The plant con
 sists of the usual equipment, machine shops tool sheds. furnaces, marine railway, offices and space to lay down
 Is submarines or other craft not over f45O feet in length. To handle the. t$1, 66 5 900 contract it is proposed to
 add this year plant extensions for
 about $35, 900 and next Spring the
 same amount With these extensions
 the plan can handle nicely four sub
 marines yearly.
 3. The United States license agree
 ments to make and sell the Lake type of submarines in American-North and South.
 4 The capital srock of the cor
 porations holding the license rights
 for England. Germany. Russia and
 Italy.
 5. Simon Lakes title to all his
 patents for submarine torpedo craft
 and his interest in the license agree
 ments mentioned above. The patents
 about cover the art for the even keel
 type of submarines and enumerate in
 the United States about 45 and in
 Great Britain, Russia, Austria and the
 rest of the world about 35.
 When the Lake submarine torpedo
 boat business began m 1901 there was
 only one submarine torpedo boat in cornnaission Tn the United States and
 France had one. The Lake type of
 even keel submarines is used by the
 United States, Russia and Austria
 Russia has bought $3,5OO,0OO worth
 of the Lake submarines after exhaus-
 tive tests in competition with the oth-s CT leading. makes in the world Aus tr1a has life long license agreement to build under the Lake patents and plans and has constructed Lake type craft Other governments are now incorporating in their specifications of requirements important features covz l cred by Lake patents, In one country Isthere was 40, 900 paid for a license Iaoption on Lake patengs, etc.. And the Edennand for submarines is constantly | onathe increase. The appropriations for 1912 throughout the world ap- proximated 30,000, 900. The United
 States navy will call this year for sub
 marine bids aggregating about $2- 100000 and will recommend to Con gress for next year approximately $3,- 300, 1000. Through patents two sub marine concerns about dominate the
 United States field $300,00O 1st
 preferred per cent. cumulative stock is offered for sale at popular sub
 scription throughout the United States
 and beyond any question the profits will be sufficient to make the stock a
 strong and safe investment. Foreign contracts for $1,500, 900
 Lake submarines paid profits of over $240,000 or 16 per cent.
 The company will start with $1, 1855, . 900 contracts free from all incum-
 brances and even if the profits should
 be less in America than abroad. there is no question but that dividends can be maintained on $4O0,00O 1st pre-
 ferred stock-a sum which is only $2s. 900.
 In addition to the manufacturing profits in submarines, there is a pos sibility of royalty from licenses abroad. In fact, number of quota
 tions were requested within the last few months.
 The commercial yard can be great | 1y developed if desired.
 The company can build merchant coasting vessels. tugs, yachts. light
 war vessels, and surface torpedo craft Bridgeport is an ideal location for shipbuild1ng.
 Bridgeport is one of the three best
 manufacturing cities in the United States at tidewater where skilled me- chanics are easily obtaina,bIe at fair h fr0 l portation facilities by rail and sea and 1 is within ligl1terage distance of New York Bridgeport is a center of the Long Island fishing and. oyster indus try which gives the commercial yard a nice line of repairs business. The company's marine railway is the only one of importance between New York and New London.
 The principal business of the com pany will be the designing and build ing of the Lake type of submarines which are well known to every navy.
 MT. Lake has made good and his craft have proved their merit in the severest tests and trials.
 The Lake type of submarine is the equal of any and has no superior.
 For about a decaue the scientific journals and newspapers have repeat edly printed scientific articles about Simon Lake and his submarines. It was emphasized that the concern does not owe a penny and does not intend to-. That the enlargement of yard and going after new business will | not be entered into unless with the necessary capital available
 | Judge Carl Foster, one of the | speakers said that the city of Bridge l port has never had such an oppor- tunity of living up to it's boast of "1o- | cal pride" and that it is a case of put up or shut up.' That the case 1 ia worthy one,4he pald. there is no