Pusey Creates Group To Study Relationship Of College to Business

President Pusey announced yesterday the formation of a Faculty committee to investigate University relations with corporate enterprises and to recommend ways in which Harvard and business can work together for "constructive social purpose."

The committee-the first ever formed from the Faculty to study the relationship between Harvard and big business-will include among its researches two studies of University investments and of stockholders' fights involving Harvard stock.

The formation of the committee follows in the wake of debates over University spending, the controversy over the General Motors stockholders' fight, and criticisms of University ownership of stocks in companies which allegedly practice racial discrimination.

Pusey, in creating the committee to examine the relationship of universities to corporate enterprises, said, "The President and Fellows (a Harvard governing board) are frequently called on to make decisions which affect Harvard's relationship with the business world, often involving social and political considerations of wider importance than simply to Harvard."

Robert W. Austin, Charles Edward Wilson Professor of Business Administration, will head the committee composed of A.James Casner '56, associate dean of the Law School, C. Roland Christensen, George Fisher Baker Jr. Professor of Business Administration, James S. Duesemberry, professor of Public Administration, and Carl W. Walter '28, professor of Surgery.

"As I understand the purpose of the committee, we will try to formulate a general policy to guide Harvard in its present ownership and future acquisitions of stock, and in its vote on stockholders' issues. There are now over 300 stocks in the portfolio but no general policy for their administration," said Reischauer.

Austin said yesterday that it was too early to know exactly how the committee would go about assessing the views of students. Faculty members, and the alumni. But he said that the committee would complete its work by Pusey's proposed December deadline.