Boycott Group Finds Harvard Invests In Company Supplied by J.P. Stevens

The Harvard Corporation owns 152,000 shares in Federated Department Stores (FDS), a holding company that is a major J.P. Stevens customer, Pam Woywod, assistant director of the national J.P. Stevens boycott committee, said yesterday.

The AFL-CIO is sponsoring a nationwide boycott of J.P. Stevens, the second largest textile manufacturer in the nation, because of alleged labor law violations.

The Democratic Socialist Organizing Committee (DSOC) is asking the Trustees to reconsider their corporate relation with FDS, Andrew J. Kahn '80, a DSOC member working on the J.P. Stevens boycott, said this week.

Be it Resolved...

"Harvard should introduce a resolution calling for FDS to cease purchases from J.P. Stevens, or at the very least support similar resolutions by others," Kahn said.

"As an investor, the Harvard Corporation has a moral responsibility to make sure FDS observes moral boundaries," he added.

Morality

Kahn said DSOC hopes Maurice Lazarus '37, a member of the Board of Overseers and the financial policy chairman of FDS, will "act morally in this matter."

Lazarus said yesterday the University's corporate interest are "out of the hands" of the Board of Overseers, adding that "FDS will not get involved in the boycott."

Consummate Boycott

"A consumer boycott is the most effective means of showing a concern. If people stop buying J.P. Stevens products, we'll stop carrying them," Lazarus said.

Kahn said DSOC was not able to gain support from the Advisory Committee on Shareholder Responsibility (ACSR) and the Undergraduate Committee on Harvard Shareholder Responsibility (UCHSR).

Due Process

Lawrence F. Stevens '65, secretary of the ACSR, said yesterday the J.P. Stevens issue has not yet come before his committee. "When it does come before the committee, I'm sure it will be given due consideration," he said.

Carl F. Rosen '80, secretary of UCHSR, said yesterday his committee is unaware of Harvard's corporate shareholdings in FDS.