Activists Will Aid Rebels If Yale Refuses to Divest

Yale University activists today will begin asking alumni to contribute to an alternative endowment fund for South African rebels if the school refuses to cancel its $400-million investment in firms doing business there.

Alumni and students organized the Yale Endowment for Divestment to pressure the university to divest its holdings there, said Andrew Tomback, a member of the endowment board.

The new endowment, a South Africa-free escrow account, has received the support of Bishop Desmond Tutu, Dr. Benjamin Spock and Rep. Bruce Morrison (D-Conn.), an alumnus, Tomback said.

“The preliminary response has been fantastic. Before mailing a single letter, we have already received thousands of dollars in contributions,” Tomback said.

“Alumni now have the option of giving to Yale without supporting the South African regime. They can help end apartheid,” said Tomback.

Funds will be released to Yale only if the Yale Corp., the school’s governing board, sells its South African-related investments, or if that country adopts a policy of “one person, one vote,” Tomback said.

At the end of each calender year in which Yale has not canceled its investments, the endowment will transfer substantial sums of money to organizations fighting apartheid in South Africa, said endowment spokesman Nathan Light.

Yale agencies “working for social justice” will also benefit from the endowment, said Light, a Yale undergraduate student.

“With it’s own endowment now totaling $1.4 billion, Yale is at a peak of financial well-being,” he said.