 While serving as president of the Academy of Motion Picture Arts and Sciences, Hersholt undertook to present the founders of the American film industry with Oscars on the 20th anniversary of the Academy's founding on March 20, 1948.The four men who received this special award from Hersholt were Colonel William N. Selig, Albert E. Smith, George K. Spoor and Thomas Armat.Only Selig and Smith were able to attend the award ceremony.