The February 20 1935 edition of the Toronto Daily Star contained this syndicated article about a young man who had built a combination boat/airplane, named the “Silver Eagle”, with which he hoped to cross the Atlantic Ocean. The article was less than sympathetic to the young inventor:
$25,000 was a lot of money in 1935 – it is equivalent to over $450,000 in 2018 dollars.
YouTube actually has footage of the Silver Eagle being launched. It doesn’t show the craft leaving the ground, but it does show that it can float.
I could find nothing else on the Silver Eagle or Paul Dudley, but his craft did not kill him, at least not right away. He lived long enough to get married and father a child – his son, a pastor, died in 2010.