LAKE TORPEDO BOAT COMPANY - STOCK CERTIFICATE SIGNED 08/15/1916 CO-SIGNED BY: HERBERT S. MILLER - HFSID 252300
Sale Price $198.00
THE LAKE TORPEDO BOAT COMPANY: HERBERT S. MILLER
1916 stock certificate for 100 shares of stock in the Lake Torpedo Boat Company, signed by company President Herbert S. Miller. This company was an early supplier of submarines to the U. S. Navy and competed with the much larger Electric Boat Company.
Stock certificate signed "H. Miller" as President and by an unknown signer as Assistant Treasurer. 2 pages. Black ink notations in unknown hand. B/w with gold-colored ink. 10½x8¼, 1 sheet, front and verso, perforated left edge, with 2-inch diameter embossed seal in bottom left corner. With stock trade receipt from A. B. Benesch & Co., dated Nov. 1, 1918, pasted on verso. Dated August 25, 1916, transferred Sept. 3, 1918. Certificate no. 6180 for 100 shares of stock, worth $10 per share, in the Lake Torpedo Boat company. HERBERT S. MILLER was the company's President when it was incorporated in 1914. The Lake Torpedo Boat Company was an early submarine manufacturer for the U. S. Navy. It founded by naval architect Simon Lake in Bridgeport, Connecticut in 1901 and incorporated in 1914, and it competed with the Electric Boat Company as one of the two premiere builders of U. S. Navy submarines. The company built at least 22 submarines between 1902 and 1922. Lake Torpedo Boat suffered from a dropoff in orders after World War I, Electric Boat's vastly superior position in the market - even though Electric Boat's vessels were reportedly sub-par - and the slow evolution of the U. S. Navy's definition of what it needed in its submarines. The Navy's decision to turn the Portsmouth Navy Yard into a Navy-owned submarine construction facility and competitor against Electric Boat contributed to the Lake Torpedo Boat's demise in 1924. It appears that five Lake Torpedo Boat submarines survived into World War II. The company's last surviving vessel - USS S-48, later designated SS-159 - was sold for scrap in 1946. Lightly toned, soiled, stained, creased and rippled. Paper clip impression in top edge. Light show-through of ink on verso. Folded twice and unfolded. Otherwise in fine condition.
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