Earth to Air

Last year, Daniel Guggenheim, Manhattan copper man and banker, gave to promote society's future in the air, half a million of the dollars his family had dug from the bowels of the earth, the money going to help endow New York University's School of Aeronautics (TIME, June 1).

Last week, Daniel Guggenheim announced another benefaction of the powers of the earth to the pioneers of the air. He wrote U.S. Secretary of Commerce Hoover that he had established a Fund for the Promotion of Aviation, with trustees "of eminence and competence," to assist civil aeronautic activities and cooperate with governmental ones.

At first the fund will be as much as Mr. Guggenheim gave last year, $500,000. He stands ready to supply $2,500,000.