Student Proposals on Investment In South Africa Go to ASCR

The University has decided to channel recent student proposals for change in Harvard's investment policy on South Africa through its traditional process of review on shareholder decisions. Daniel Steiner '54, general counsel for the University, told the Faculty Council in its weekly meeting yesterday.

In that process, the Advisory Committee on Shareholder Responsibility (ACSR) will first consider the proposals, and will then make recommendations to the Corporation on what action to take on its investments in South Africa.

The South African Solidarity Committee (SASC), a student group formed this fall, submitted the proposals in a letter to President Bok two weeks ago.

The SASC proposals urge the Corporation to sell its stock in two commercial banks that make loans to the South Africa government and to sponsor shareholder resolutions calling for companies in which it owns stock to either curtail or withdraw their South African investments.

Two members of SASC's steering committee said last night that the committee is willing to consult with the ACSR, but that it plans to concentrate its efforts on mobilizing mass student support for the group's proposals.

"We hope that the ACSR will agree with our proposals, but we think getting students on our side is the best way to change University policy," Neva L. Seidman '78, one of the steering committee members, said yesterday.