Corporation to Reconsider GM Proxy Position Today

The Harvard Corporation will reconsider its stand on the General Motors shareholders challenge today amidst a renewed drive by opponents of the GM management to make the Corporation change its position.

In late March leaders of the Young Peoples' Socialist League, Harvard Environmental Law Society, and Harvard Ecology Action sent the Corporation a letter asking them to reverse Treasurer George F. Bennett's '33 decision to vote the University's 287,000 shares with the GM management.

How to Vote

In a reply dated March 26, President Pusey said Harvard has not seen the official proxy resolutions, but he added, "When these have been received. the President and Fellows will determine with the Treasurer how to vote the University's shares."

"You understand that normally the Treasurer has full discretion but occasionally when Harvard's position involves some policy question affecting the University, the Treasurer asks the Corporation for instructions. I am confident he will in this instance," he said.

Declined Invitation

Pusey declined an invitation to debate publicly the two resolutions submitted by a group of Washington-based lawyers called the Campaign to Make General Motors Responsible.

While inviting comments from the students. Pusey emphasized that the final decision will remain with theCorporation. "not with the Faculty or the student body."

On April 1, the Environmental Law Society submitted a seven page brief supporting Campaign GM which the Corporation is also expected to consider today.

The brief points out that the recent Securities and Exchange Commission (SEC) decision to place the two Campaign GM resolutions on the proxy statement climinates the necessity of engaging in an all-out proxy fight with the GM management.

Members of the Environmental Law Society have also included an alumni poll in the April Harvard Alumni Bulletin to test alumni reaction to the GM issue.

The poll marks the first time students have solicited alumni sentiment on a capmas issue. The Bulletin is scheduled to come out next week with an accompanying article on the stockholder's challenge.