Word: divested
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Since Harvard commands so much respect in academic and social circles, a decision by the University to divest at least some of its South Africa-related stocks, particularly investments in commercial banks that directly support South Africa through loans, would command a great deal of influence, since many major institutions must come to grips with the question in the near future. The University should make such a decision and take an active role in shareholder resolutions calling for the withdrawal of U.S. investments in South Africa...
Garry W. Martin '78, president of the Harvard-Radcliffe Black Students Association, said yesterday the University had to claim it was selling the bank stock for financial reasons or "it would be under pressure to divest itself of its stock in other corporations operating in South Africa...
...University's action shows a side of academic institutions that is all too rarely seen, namely, a willingness to protect a courageous individual. Harvard should now take the next logical step--to divest its holdings in American companies whose South African investments support the apartheid system...
Fouquet will try to persuade the four faculty, four alumni, and three other students (not undergraduates) on the committee that Harvard should divest its holdings in banks lending money to the South African government, and vote for the with-drawal from South Africa of other companies in which it holds stocks...
...SASC proposals call for Harvard to divest itself of stocks in banks which loan money to South Africa and to support or initiate shareholder resolutions in all other corporations it holds stock in that do business in South Africa calling for those firms to withdraw their operations...