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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 participate 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
CLIFFORD W. HENDERSON MERIT AWARD
Emblematic of victory in attaining the highest number of points in the competitive events at the National Air Races.

The Ludlum Award for a new record in the the THOMPSON TROPHY RACE
TOTAL PURSE $4,000.00 and the LUDLUM AWARD Sponsored by the LUDLUM STEEL COMPANY

THE LUDLUM STEEL COMPANY is sponsoring the Ludlum Award for a new record in the Thompson Trophy Race. 

1. The total purse of $4,000.00 will be awarded to the winner of the Thompson Trophy Race, provided his speed exceeds the present record of 264.261 miles per hour.

2. The pilot of the winning airplane will be given the Ludlum Award for permanent possession.

Clifford W. Henderson Merit Award Sponsored by CLIFFORD W. HENDERSON

CLIFFORD W. HENDERSON is sponsoring the Clifford W. Henderson Merit Award which is given to the pilot who is the most consistent winner and who earns the highest number of points in the competitive events at the National Air Races.

1. Points are based on all-around performance and the establishment of the new National Air Races or World Speed Records.

2. The pilot winning this award is acknowledged as the Champion Racing Pilot of the current National Air Races.

3. The first to win this award was James H. Doolittle - 1932; second, Roscoe Turner - 1933; third, the late Doug Davis - 1934; fourth, Harold Neumann - 1935; fifth, Michel Detroyat - 1936; sixth, the late R.A. Kling - 1937.

4. Points are awarded on the following basis: 
Thompson Trophy Race - 2000 points
Bendix Trophy Race - 2000 points
Louis Wm. Greve Trophy Race - 1500 points

5. Points are allotted on the following basis:
First Place...40%
Second Place...25%
Third Place...14%
Fourth Place...9%
Fifth Place...7%
Sixth Place...5%

6. A 25% increase in point awards will be given to each pilot establishing a new National Air Races or World Speed Record in any particular event.

7. The Clifford W. Henderson Merit is perpetual. A Gold Plaque will be given to the annual winner for permanent possession.