The Board of Control of the United States Naval Institute has given careful and deliberate consideration to the merits of the above referred to organization, which is now being incorporated (see page 108, January, 1926, Proceedings); and, having in mind the mission of the Institute, the Members of the Board have unanimously decided that it would be mutually advantageous to both organizations for the Institute to make an initial contribution to the Foundation's Endowment Fund.
A member of the Board of Control will represent the Naval Institute on the Board of Trustees when the Foundation has been incorporated.
In accordance with the above decision, the Board of Control has favorably acted upon the following resolution:
"Resolved that the Board of Control appropriates a sum of One Thousand Dollars ($1,000) for the further advancement of Professional, literary, and scientific knowledge in the Navy; this sum to be paid to the Naval Historical Foundation, if and when established to be a corporation, for the procurement of selected manuscript and other sources of naval history."