Princeton Decides Not to Question Foreign Investment

The Princeton University Council Resources Committee, a group similar to Harvard's Advisory Committee on Shareholder Responsibility, decided last week to advise Princeton trustees not to support any of five proposed shareholder resolutions to IBM, Mobil Oil, and American Metal Climax.

'Feasible'

The committee advised the trustees to reject proposals calling for Mobil Oil to implement affirmative action employment programs in nations where it invests, for IBM to disclose its business operations in South Africa, and for American Metal to do "whatever is feasible" to reduce environmental damage caused by its operations.

The committee recommended that the trustees abstain from voting on a resolution calling for American Metal to curtail its investments and operations in Namibia, South Africa.

Harvard this month took an opposing position and decided to support a resolution that would prohibit Phillips Petroleum from conducting operations in Namibia.