Harvard and Mississippi

On Thursday a group of students who will be working for civil rights in Mississippi this summer presented the University with a report deploring Harvard's investment in that state. The students have asked President Pusey to submit the statement to today's meeting of the Corporation.

According to the report, Harvard is the largest stockholder in Middle South Utilities, Inc., a holding company which owns four major power companies in Mississippi, Arkansas, and Louisiana. The University owns $9,939,074 worth of common stock, or about 1.7 percent of the total shares issued. Furthermore, Harvard owns 1815 shares of preferred stock in Mississippi Power and Light, Middle South's Mississippi subsidiary.

Misissippi Power and Light is deeply involved in the economic and political structure of the state. William P. McMullan and Alex McKeigny, both directors of the company, are leaders of the Jackson Citizens' Council. Other officials, Robert M. Hearin and Alex Rogers, are members of the staff of Mississippi Governor Paul B. Johnson. Mississippi Power and Light also shares several directors with the Deposit Guaranty Bank and Trust Company of Jackson and the First National Bank of Jackson, the two largest banks in the state. Many of the bank officials, in turn, are members of the Citizens' Council.

Harvard thus has a direct investment in an organization which helps support and guide the racist policies of Mississippi. Today's meeting of the Corporation should recommend that the University withdraw its investment. The University should also begin a thorough examination of all its investments. What it true of Mississippi Power and Light may be true of other companies in which Harvard has holdings. To retain passively its Mississippi holdings would be a reckless denial of Harvard's responsibility.