Reporting on subjects including the successful impact of WSC and Lord Fisher's policy of obtaining as many aeroplanes and seaplanes as possible, and attacks on Germany carried out early in the First World War; the detrimental impact of the reduction in the Air Service implemented by 4th Sea Lord, Commander Lambert, following WSC's and Fisher's departure from the Admiralty; strong criticism of Lambert and the 1st and 2nd Sea Lords [Admiral Henry Jackson and Admiral Frederick Hamilton], and stating that they were all against the Air Service; findings and the verdict of the Sea Lords' court of enquiry into the Air Service in 1915; how the Air Service was being run, and reasons why not many operations were being carried out; the inactivity of the whole Admiralty; Lord Charles Beresford's speech of the 9 Mar 1916 being inspired by Lambert; that Lord Derby [Edward Stanley] and Lord Montagu wanted to create an Air Ministry; and that Mr Balfour had said that the Sea Lords would resign if the control of the Air Service was taken from them, and that all the airmen thought this would be a good thing as then Lord Fisher could take control.

With some annotations in red crayon