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The Thames Sailing Barge Trust Exploratory Committee was formed in 1952 by a small group of enthusiasts who realized that sailing craft were disappearing from the trading life of Britain. Plans were made to raise public subscriptions to purchase a barge to be maintained perpetually in working condition under sail alone. The Trust was formed in 1954 and in 1956 acquired the sailing barge, MEMORY. At the same time the name of the Society was changed to the Sailing Barge Preservation Society to avoid confusion with other organizations. Trading proved difficult in 1959 because of lack of cargoes and also because the MEMORY sustained damage when run down in fog. In 1960 the Society decided to wind up its affairs and its assets were given to the Foudroyant Trust.