Seniors Give $2600 to Divestiture Fund

In the first day students were able to contribute to the newly established Endowment for Divestiture, 140 seniors pledged $2600 to the escrow fund, members of the solicitation committee said yesterday.

Under the terms of the fund, the money collected will go to the University only when it sells its stock in companies operating in South Africa or when the United Nations rescinds its 1976 call for total corporate divestiture from the apartheid state.

If neither condition is met in 20 years, the money will be turned over to a charity in the Harvard community that is not affiliated with the Corporation.

The Senior Donations Committee also recruited new fundraising agents yesterday, bringing the total to 107, M. Todd Collins '83, a committee member, said at a press conference last night. He added that the committee now has at least one junior in every upper-class house.

The group has also asked Richard J. Barnet '52, a Washington, D.C. lawyer, to be alumni gift coordinator.

The committee said it hopes to reach every senior by the end of the month.

The Southern Africa Solidarity Committee (SASC), which proposed the idea of an escrow account, is still circulating petitions among seniors asking them to boycott the traditional Class Gift in favor of the divestiture fund.

About 400 seniors have signed the petition as of yesterday, members said.

About 10 official solicitors for the divestiture fund are also Class Gift agents, Collins said.

Class Gift Agent James T. Hamilton '83 said last night that he persuaded four of his six fellow Winthrop House gift agents to publicize the divestiture fund while soliciting for the Class Gift.

Harvard-Radcliffe Fund Director David S. Green, who oversees the Class Gift, said yesterday that gift agents who solicit for the divestiture fund will not be asked to resign.

"We ask that a senior Class Gift agent do nothing more than what they agreed to do," Green said, adding. "What they want to do with their personal time is up to them."

"As a fundraiser myself, I wish them the best of luck," Green said.