806 
In the Commission’s words: 
The overriding consideration is that only through creation of a major marine 
agency with attendant atmospheric responsibilities can a national effort be 
launched. Because of the importance of the seas to this Nation and the world, 
our Federal organization of marine affairs must be put in order. 
One very short, final comment. In moving to advance scientific 
understanding and the practical uses of the sea, we and other de- 
veloped nations face an unprecedented opportunity. 
This oportunity is to organize our efforts jointly for the benefit 
of all by accepting the sea as everyone’s resource and affirming that 
joint custodianship for mankind is a ‘practical as well as moral 
imperative. 
The alternative, an intensifying competition over these uses as tech- 
nological capability and the perception of the sea’s importance both 
grow, seems ominous in this age of nuclear weapons. 
In either case, our approach to marine affairs needs to utilize our 
best minds and widest national capabilities if we are to measure up 
to the challenge ahead. 
This completes my statement, Mr. Chairman. I would be glad to 
discuss aspects of it. 
Mr. Lennon. Thank you very much, Mr. Brooks. 
Mr. Pelly. 
Mr. Petyy. Mr. Brooks, when did the Travelers Insurance Co. 
establish the Travelers Research Center? 
Mr. Brooks. The Travelers Research Center was established late in 
1960, Mr. Pelly, as a nonstock, nonprofit corporation with the pur- 
poses that I have described. 
Last year, late in 1968, the program carried out by the Travelers 
Research ‘Center had expanded to such an extent that working capi- 
tal was short. Working capital is hard to come by in a not-for-profit, 
nonstock corporation. The Travelers Research Center at that time in 
1968, had a wholly owned subsidiary of its own, a stock corporation. 
The solution to our investment. capital shortage was achieved by 
having the subsidiary purchase the bulk of the activities of the re- 
search center and then itself in turn be purchased by the Travelers 
Corp., as a wholly owned subsidiary. 
That move was made in December of 1968. 
Mr. Petry. The motivating power back of the creation of the center 
and the subsidiary I presume was that by research and improvement 
in the quality of the environment actually the insurance industry would 
indirectly and perhaps in some measure benefit. Is that correct? 
Mr. Brooxs. That 1s very well put, Mr. Pelly. That is precisely the 
motivation as I have always understood it and it is still the motivation 
although we are a stock subsidiary of the Travelers Corp. 
In amplification of the point that you have just made you may be 
interested that for 3 years the Travelers Corp., funded a broad-scale, 
long-term oriented basic research program in the old Travelers Re- 
search Center aimed at more effective management and problem solv- 
ing with regard to a wide variety of environmental problems. 
That support averaged over a half million dollars a year during 
those 3 years. The culmination of that program—also at the end of 
1968—was a conviction that I had and many of my senior colleagues 
in the Travelers Research Center had and which was shared by the 
