TLS, two pages, 8.5 x 11, The Lake Submarine Company letterhead, February 1, 1901. Letter marked as "Confidential," addressed to a stockholder of the Lake Submarine Company, in part: "It is proposed to organize a Company to secure contracts from the U. S. Government for building submarine torpedo boats of the 'Argonaut' type, or to sell the patent rights to the Government, giving them the right to build such vessels themselves…But, owing to recent activity in foreign countries in the submarine torpedo-boat line, the Government has lately shown a disposition to consider the submarine boat as a possible factor for defensive purposes, and has appropriated $1,000,000 to build several boats of the 'Holland' type, and had thus committed itself to the submarine boat as one of our National instruments of defense." In very good to fine condition, with light creasing and minor corner loss.
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