The Lake Torpedo Boat Company of Bridgeport, Connecticut was an early builder of submarines for the US Navy. Founded by Simon Lake in 1912, the firm competed with John Philip Holland's Electric Boat Company until financial difficulties led to the company's demise in 1924. The Navy ceased awarding contracts to Lake shortly before that time, because the yard was not physically able to build the large submarine cruisers then envisioned, such as USS Argonaut (SM-1). At the time, the Navy also wished to concentrate submarine construction at Navy Yards, particularly Portsmouth Navy Yard in Kittery, Maine. The company completed 26 submarines for the US Navy, designed two US Navy submarines that were built in other yards, and built several other submarines for civilian use or that were not accepted by the Navy. The company also designed the Imperial Russian Navy's Osetr-class_submarines, the first of which was Lake's Protector.