Trustees endorse $2-million divestiture

At a press conference on April 29, President McLaughlin announced that the College would divest itself of stock in two U.S. companies doing business in South Africa that have not conformed to the College's policy on investor responsibility. The holdings, worth about $2 million, are in Kimberly-Clark Corporation and Republic Bank of Dallas. The President said the decision was made by the Trustees as a result of recommendations made.by the College's Advisory Committee on Investor Responsibility (ACIR), which had consulted with the Trustee Committee on Investor Responsibility (TCIR). The ACIR, composed of faculty, student, administration, and alumni representatives, was chartered in 1972 by the Trustees. In a letter to the campus community dated April 24, President McLaughlin outlined steps the College has taken in the 13 years since the ACIR came into being. Key among these was the Trustees' endorsement, in 1978, of the "Sullivan Principles." The College has some $6l million invested in companies doing business in South Africa.