The first meeting was held at the House of Commons and the purpose of this meeting was to deal with the investment of funds. The sum of £8,500 was to be invested. It was resolved that a minimum of £400 be allocated for Scholarships and that two Scholarships per year be awarded, each of nine months’ duration, to the value of £200. In December the Scholarships were named the Dyke Acland Travelling Scholarships. A deadline for applications for the first Scholarship is set for 14 April 1928. Interviews were arranged for 16 June 1928. 72 applications were received and in June the first Scholarships are awarded to Miss M L Dhonau and Mr Paul Winterton.
Following consultation with Sir Francis Acland, brother of Sir Henry, the Scholarships are renamed the Acland Scholarships.
In 1929 only one Scholarship was awarded due to the fact that the Trust now had to pay Income Tax. The financial situation had improved by 1930 where two Scholarships could be offered.
In March 1932 the Trustees visit the London School of Economics where they meet with Sir William Beveridge, Dr Dalton and Professor Plant to discuss subjects for future research. A sub-committee is formed. Three Scholarships are offered this year.
A representative from the London School of Economics is invited to assist with the selection process.
In May 1933 the first Scholarship to the USA is announced, for a period of six months, with a fee of £250.