General Electric will match contributions under $1000 made by employees to their alma maters in 1955, announced Philip D. Reed, chairman of the company's board of trustees and of its Educational and Charitable Fund.
At present, it appears that some of these grants by General Electric will be for unrestricted use. "This is the crucial point," noted James R. Reynolds '23, assistant to the President of the University.
"All the colleges in the country have a crying need for funds with no conditions attached," he said. "Unrestricted money is the money we require most."
General Electric employs 23,000 graduates from 540 colleges, Reed estimated. He did not know how many are Harvard men.
Reed called the program "frankly an experiment."