UNIVERSITY REFUTES EVERTS' STATEMENTS

The University Saturday issued an answer to the article in the current Alumni Bulletin in which W.P. Everts '00 states that part of the blame for the recent stock market crash must be assumed by Harvard, on account of the industrial forecasts issued periodically by the Harvard Economic Society.

The University's statement is as follows:

Mr. William P. Everts, in the current number of the Harvard Alumni Bulletin suggests that the University is responsible for the effect of prophecies by the Harvard Economic Society; but the fact is that, recognizing that it would be unwise to take any part in forecasting for commercial purposes the economic future, the corporation recorded on April 12, 1926, its intention to terminate the Harvard Economic Service as then conducted by the University. After long discussion of how this could best be accomplished, the final separation was completed by vote of the corporation on Nov. 14, 1927; and the society was reorganized as an independent corporation. Some of its members are officers of the University; but since that time it has been in no degree subject to University supervision or control. Its forecasts appealed to business men so much as to bring the society a large number of subscribers; but neither in this esteem nor in any failure of indications to come true has the University any share.