(This is a transcription from the original memo.  As much as possible, the original format has been preserved.)

SUBJECT: AMC Opinion Concerning "Flying Discs"

TO: Commanding General

Army Air Force

Washington 25, D.C.

ATTENTION: Brig. General George Schulgen

AC/AS-2

1. As requested by AC/AS-2 there is presented below the considered opinion of this command concerning the so-called "Flying Discs." This opinion is based on interrogation report data furnished by AC/AS-2 and preliminary studies by personnel of T-2 and Aircraft Laboratory, Engineering Division T-3. This opinion was arrived at in a conference between personnel from the Air Institute of Technology, Intelligence T-2, Office, Chief of Engineering Division, and the Aircraft, Power Plant and Propeller Laboratories of Engineering Division T-3.

2. It is the opinion that:

a. The phenomenon is something real and not visionary or fictitious.
b. There are objects probably approximating the shape of a disc, of such appreciable size as to appear to be as large as man-made aircraft.
c. There is a possibility that some of the incidents may be caused by natural phenomena, such as meteors.
d. The reported operating characteristics such as extreme rates of climb, maneuverability (particularly in roll), and motion which must be considered evasive when sighted or contacted by friendly aircraft and radar, lend belief to the possibility that some of the objects are controlled either manually, automatically or remotely.
e. The apparent common description is as follows:-

(1) Metallic or light reflecting surface.
(2) Absence of trail, except in a few instances where the object apparently was operating under high performance conditions.
(3) Circular or elliptical in shape, flat on bottom and domed on top.
(4) Several reports of well kept formation flights varying from three to nine objects.
(5) Normally no associated sound, except in three instances a substantial rumbling roar was noted.
(6) Level flight speeds normally above 300 knots are estimated.

f. It is possible within the present U.S. knowledge -- provided extensive detailed development is undertaken -- to construct a piloted aircraft which has the general description of the object in sub- paragraph (e) above which would be capable of an approximate range of 7000 miles at subsonic speeds.

g. Any development in this country along the lines indicated would be extremely expensive, time consuming and at the considerable expense of current projects and therefore, if directed, should be set up independently of existing projects.

h. Due consideration must be given the following:-

(1) The possibility that these objects are of domestic origin - the product of some high security project not known to AC/AS-2 or this Command.

(2) The lack of physical evidence in the shape of crash recovered exhibits which would undeniably prove the existence of these subjects.

(3) The possibility that some foreign nation has a form of propulsion possibly nuclear, which is outside of our domestic knowledge.

3. It is recommended that:-

a. Headquarters, Army Air Forces issue a directive assigning a priority, security classification and Code name for a detailed study of this matter to include the preparation of complete sets of all available and pertinent data which will then be made available to the Army, Navy, Atomic Energy Commission, JRDB, the Air Force Scientific Advisory Group, NACA, and the RAND and NEPA projects for comments and recommendations, with a preliminary report to be forwarded within 15 days of receipt of the data and a detailed report thereafter every 30 days as the investigation develops. A complete interchange of data should be affected.