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H.G. BATCHELER 
President of Ludlum Steel co., who established the Ludlum Award and Trophy in 1937 to encourage the improvement of aircraft performance and serve as an incentive to exceed the present National Air Race speed record. 

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CLIFFORD W. HENDERSON 
Managing Director of the National Air Races since 1928 established the Clifford W. Henderson Merit Award to encourage pilots to particpate in as many competitive events as possible and give them due recognition for their attainments.

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THE LUDLUM TROPHY 
Emblematic of victory in the establishment of a new average speed record in the Thompson Trophy race at the National Air races--exceeding the existing record. 

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1937 WINNER 
R. A. Kling
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CLIFFORD W. HENDERSON
MERIT AWARD 
Emblematic of victory in attaining the highest number of points in competitive events at the National Air Races.

1938 National Air Races Page 19