The Bridgeport evening farmer., 1916-06-03
Not Beyond Human Possi-
 bility that the Lusitania s Cargo May Be Brought to Surface Through Mechan- ical Devices Perfe cted by Pioneer of Submarine In
 vention and his Associates

With the formation of a $3,50O,0O0 Connecticut corporation the stock of which is said to have been totally sub scribed and which is reported to hold contracts with foreign governments to build submarine wrecking boats eapa- b1e of locating and salvaging sunken liners and warships, the ideas that inn pel1ed Simon Lake to the development of the submarine promise to be ful- 6lled.
 The Argonaut Salvage corporation of Milford, yesterday filed with the secretary of state a. certificate of i'm corporation. The capital stock is $3,5O0,00O, divided into 10000 shares of common and $25,OOO of preferred the latter to yield dividends of not less than per cent.
 The incorporators, as shown in the certificate, John G. Hoffman of New York, Carl F. Ford of Milford, and R. J. Oliver of Woodmont, Conn. These incorporators are admitted to 4ibe representatives of large financial interests.
 It is stated on the authority of both Simon Lake and Attorney Carl Fos- ter, who drew the papers, that the incorporation is not of the stock-job- lbing character, as the stock already Ehas been fully subscribed and prepa- rations for immediate work have be- gun The corporation fee. paid to the ietate yesterday, was $1,75o.
 The purposes of the corporation, as outlined in the incorporation certif- icate, are extremely broad, giving the new company right to salvage boats, steamships, vessels and cargoes, to search for and locate sunken or tstranded wrecks, to reconstruct wrecks of any kind, to build, make. repair, Ioperate and maintain, buy, sell and Ideal in boats, submarines, wrecks and Icargoes and to operate patents or any , Interest therein granted by any gov ternment, as we'll as to own, lease, op- ferate, etc, lands, docks, lighthouses, etc.
 simon Lake, when reached by tell fephone at his Milford home today, ad- 4rnitted knowledge of the company which has already secured rights to fhe use of his submarine engineering ipatents.
 '"The new company is to build and operate submarine salvage boats rratT,er than the offensive submarine" said MT. Lake While I am not in a position to disclose the plans fully, may say that the present incorpora- tors merely acted as representatives for much larger interests whose financial stability is unquestioned
 Mr. Lake refused to deny or affirm that his interests in the company in cIuded more than such patent rights as he has granted the new concern
 When asked if his recent purchases along the Housatonic river in Strat- ford would be used as the base for a submarine plant, he also refused to deny or affirm that such was the case. though tacftly admitting that the site had been considered.
 A significant fact in connection with the incorporation is that Attorney rCarl Foster, who has always repre- sented Mr. Lake in his legal and financial transactions as well as ap- bearing as attorney for incorporators for other large concerns of which the Bridgeport Projecti1e Co., is among the latest local enterprise, drew the papers of incorporation which give such wide scope to operations.
 MT. Foster when questioned at his office refused to admit the identity of the interests behind the company other than to confirm the statement made by MT. Lake that the real in terests were not revealed in thel ist of incorporators.
 Persons in this city we'll acquainted with submarine engineering feats as- sert that the number of vessels sunk abroad in comparatively shallow water has astounded all nations, and particularly those involved as bellig- erents. Agents of foreign govern ments, covetous of the ships and car goes of opponents, are known to have offered fabulous sums to salvage con- cerns for the recovery of wrecks or cargoes. k Likewise large marine fn- terests have been anxious to recover the millions of dollars worth of prop
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