Mackall added that other universities, like Cornell, Pennsylvanian and Yale, have adopted policies where the Sullivan principles are the minimum standard, and they will not invest in companies that don't sign the guidelines.

Since Harvard is, willing to divest from companies that do not follow certain criteria for activities in South Africa, Mackall said there is a "fundamental inconsistency" if Harvard is not willing to take a positive step in the opposite direction and not invest in companies that don't meet the same criteria.

Even the chairman of the ACSR, Walther Salmon, Roth Professor of Retailing at the Business School and considered a conservative on shareholder topics, was reported to be disturbed at the Corporation's stance on the Sullivan principles Salmon was not available for comment.

Philip Morris

In other action, the Corporation and the advisory committee were said to disagree on what Harvard policy should be on investing in the Philip Morris Co., which had come under heavy criticism by the ACSR for its extensive production of tobacco related products.

Calkins said the tobacco issue is too complicated for any immediate decisions on the ACSR's informal recommendation that Harvard divest its $20 million worth of stock in the company, adding the Corporation would take the issue up this summer