Earl Stone was born on October 15, 1918, in Los Angeles, California. He graduated with a Bachelor's Degree from the University of California in 1940, and he then enlisted in the Aviation Cadet Program of the U.S. Army Air Corps on September 9, 1940. Stone was commissioned a 2d Lt in the U.S. Army Air Forces and awarded his pilot wings on April 25, 1941, and then completed additional training before deploying to the Philippines shortly before the Japanese attacked the islands in December 1941. He served as a P-40 Warhawk pilot and was assigned to the 17th Pursuit Squadron of the 24th Pursuit Group at Nichols Field, Clark Field, Lubao Air Field, Pilar Field, and Bataan Field at various times while stationed in the Philippines. Lt Stone destroyed 3 enemy aircraft in aerial combat before being Killed in Action during a mission on February 9, 1942. Because all unit records were lost after the Japanese invasion of the Philippines, Lt Stone was never officially credited with his 3 air victories. His remains have never been recovered from the mountain that his aircraft crashed on.

His Silver Star Citation reads:

For gallantry in action while serving as a Pilot with the 5th Interceptor Command, FIFTH Air Force, in action in the vicinity of Algoma Bay, Bataan, Philippine Islands, on the night of 1 – 2 February 1942. When report of an attempted enemy landing force was received, Lieutenant Stone took off individually for the area of the reported landing attempt, and proceeded to bomb and heavily strafe, returning to his base to replenish his ammunition supply after each attack. The skill and determination of Lieutenant Stone may be attested by the success of the attack. Several enemy landing barges were destroyed, and so many casualties inflicted that the landing attempt was repulsed. Furthermore, all airplanes and pilots returned to safety to their bases after completion of the mission.