Though the Bub company, founded by Karl Bub, is known to have produced items in collaboration with Carette, and it is reasonable to assume that this cooperation would have included the production of magic lanterns, there is no evidence of Bub manufacturing magic lanterns.
Many Bub clockwork trains and toys reached the American market via distributor F.A.O. Schwartz, NY City, during the 1920s-1930s.
Nuremberg, Germany, 1851 - 1966. Trademark: K.B.N.
What's it worth? Take a look at this Karl Bub Kbn price guide: sold listings for a value indication.