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SUMMARY OF BOARD ACTION ON THE REPORT OF THE PROXY ADVISORY COMMITTEE DATED MARCH 17, 1987
 
 
 
 
 
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SUMMARY OF BOARD ACTION ON THE REPORT OF THE PROXY ADVISORY
COMMITTEE DATED MARCH 17, 1987

  • Mr. Carl Smith, Chairman of the Finance Committee of the Board of Visitors, made the following statement:
  • I hand you a copy of the Board of Visitors' response to the Proxy Advisory Committee report of March 17, 1987 and the resolution of the Student Council and wish to inform you that this response has been approved unanimously by the Board.
  • We have made a thorough evaluation of the Report of the Proxy Advisory Committee and Council's resolution. While abhorring the system of racial injustice in South Africa, we must consider all aspects of the problem. This includes protecting the financial well being of the University and its endowment.
  • One point of emphasis is that we strongly endorse the Proxy Committee's March 17th position to "support education of non-white South Africans."
  • We are reaffirming the policy of selective divestment. The Board is convinced we have made an objective evaluation of a complex situation and by this action, are steering the proper course for the University.
  • The question of divestment will not be considered further by the Board unless there has been a material change in conditions surrounding this issue.
  • Carl W. Smith, Chairman, Finance Committee