Dartmouth Discusses South Africa Divestment, Brown To Sell Some Stock
Undated (AP) _ Dartmouth College trustees oppose divesting from companies doing business in South Africa, while Brown University failed to satisfy anti- apartheid activists by deciding to sell some stock in companies that do not promote equality for South African blacks.
″It has been our conclusion that (divestment) is not in the best interest of Dartmouth at this time,″ trustee Robert E. Field said Saturday. ″It is not clear to me that disinvestment will bring about the collapse of apartheid.″
The trustees met with about 150 students, some of whom painted their faces and smeared their tattered clothes with red paint to symbolize blacks beaten and killed in South Africa.
The Hanover, N.H. school has roughly $63 million invested in companies doing business in South Africa. The board voted last fall to divest about $2 million.
The trustees made no formal announcement. A statement is expected early this week, said Dartmouth spokesman Alex Huppe.
On Tuesday, 18 people were arrested who tried to prevent the removal of a symbolic shanty from the campus green and 12 students, most affiliated with the off-campus, right-wing weekly The Dartmouth Review, were suspended for taking part in an attack on shanties.
″We need on this campus a period of stability and calm,′ said board chairman Walter Burke.
A statement from the Brown University Corp. said Saturday its decision was designed to guarantee companies in its investment portfolio by 1988 are ″making a significant contribution to the removal of apartheid,″ the government’s ″repugnant″ system of racial discrimination.
Members of anti-apartheid student groups attacked the decision.
″It’s pretty obvious this is unacceptable to the Brown Free South Africa Coalition,″ said Colette Matzzie, a sophomore from Pittsburgh.
She and other members from the Providence, R.I. campus declined comment on what response was planned.
Brown has $35.2 million, or about 13 percent of its $272 million portfolio, invested in U.S. companies with business ties to the racially segregated country.
The decision will have the greatest immediate impact on about $16 million worth of investments in 18 companies.
An investment monitoring firm has classified those companies as ″making progress″ toward full compliance with the Sullivan Principles, which promote equality and education for black South African workers.
The university will sell its stock in those companies in February 1987 unless they are ″making good progress.″
An additional $10.8 million invested in companies already classified as making good progress will be reconsidered in February 1988, the corporation decided.
The remainder of the school’s $8.5 million in South African investments have not been classified. The same divestment terms will be applied once those companies are rated.
In 1984, Brown sold $4.6 million in stock in six companies that had not agreed to comply with the Sullivan Principles.