The President of the United States of America takes pleasure in presenting the Navy Cross to Ensign Arthur Joseph Schultz, Jr., United States Naval Reserve, for extraordinary heroism in operations against the enemy while serving as Pilot of a carrier-based Navy Scouting Plane of Scouting Squadron TWO (VS-2), attached to the U.S.S. LEXINGTON (CV-2), in action against enemy Japanese forces during the Air Battle of the Coral Sea on 7 and 8 May 1942. Participating in a dive bombing attack on an enemy aircraft carrier on 7 May, Ensign Schultz contributed materially to the destruction of the vessel by pressing home his attack with skill and determination. On 8 May, as member of the anti-torpedo plane patrol, he launched repeated counterattacks against Japanese aircraft in the face of heavy fighter opposition. His conscientious devotion to duty and utter disregard of personal safety were in keeping with the highest traditions of the United States Naval Service.