A convention organized by the Hydra Club with help from some members of ESFA, and held in New York City at the Henry Hudson Hotel at Columbus Circle on July 1-3, 1950, also known as the New York Science Fiction Conference. Attendance was over 300.
The purpose of the Hydracon was "to discuss the problems of literary and publishing aspects of science fiction." The featured speakers were Fletcher Pratt, L. Sprague de Camp and Willy Ley. The Hayden Planetarium gave a special showing of Trip to the Moon. The program included Sam Merwin, Jerome Bixby, Judith Merril, Isaac Asimov, Harrison Smith (Publisher of The Saturday Review of Literature), Bea Mahaffey, Walter Bradbury (Doubleday), Groff Conklin, Frederick Fell, Robert Arthur, Dr. Tom Gardner, David H. Keller, Murray Leinster, and Phil Klass. The final Monday afternoon was a discussion of the "Procedure for the First Annual Science Fiction Literary Awards."
Life magazine covered the event and published a two-page spread of a panoramic picture of the diners at the banquet. Dave Kyle wrote that "The most exciting moments were the disturbances made by William S. Sykora (early ISA fan and Futurian hater) who protested the event as some kind of betrayal of fannish traditions, charging despicable commercialism."