LAKE TORPEDO BOAT COMPANY - STOCK CERTIFICATE SIGNED 09/12/1916 CO-SIGNED BY: HERBERT S. MILLER - HFSID 252301

1916 stock certificate for 5 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.

Sale Price $198.00

Reg. $220.00

Condition: fine condition
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THE LAKE TORPEDO BOAT COMPANY: HERBERT S. MILLER
1916 stock certificate for 5 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 and black ink stamps. B/w with gold-colored ink. 10½x8¼, 1 sheet, front and verso, with 2-inch diameter embossed seal in bottom left corner, perforated left edge. Dated Sept. 12, 1916, transferred Sept. 13, 1916. Certificate no. 6215 for 100 shares of common stock, worth $10 per share, in the Lake Torpedo Boat company. Cancelled on Nov. 6, 1916. 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, foxed, creased and rippled. Normal cancellation stamps, which touch Miller's signature. Pinholes near top edge. Light show-through of ink on verso. Folded four times and unfolded. Otherwise in fine condition.

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