Yale University's $370-million fund drive has reached $97 million amidst increasing speculation that Yale President Kingman Brewster may resign in late 1975 or early 1976 if the drive appears assured of success.
Brewster last April announced the Campaign for Yale, the largest fundraising effort ever undertaken by any American university, to boister Yale's $500-million endowment and avoid a "real dwindling of the quality of the institution."
At that time, Brewster told members of the Yale Corporation that he would ask them to search for his successor when the campaign had been successfully completed.
However, sources close to the Yale Corporation and this week that even though the campaign is running a little behind its five-year timetable. Brewster may resign in time to enter the 1976 Senate race in Connecticut if he thinks the fund drive is "on a firm footing."
John Perry Miller '32, chief executive officer of the Campaign for Yale, said Tuesday that Brewster felt very strongly that he should remain as president until Yale's financial outlook had improved.
Miller said the $97 million total, which he will announce to the Yale Corporation meeting this morning, is lower than anticipated but "very promising in light of the current economic situation.
"Pass the Baton"
"One has to assume that if we can get $97 million in a depressed market, we will make more progress as the economy reverses. As we reach the point where it is clear we'll make it. Kingman indicates he'll be ready to pass the baton," Miller said. He added that Brewster has not explicitly stated the point at which he will consider the campaign successful.
During the first year of the Campaign for Yale, only those alumni and friends who might give more than $500,000 have been solicited. Miller said his staff has also concentrated on building up a nationwide group of volunteers to approach all Yale alumni over the next four years.
Miller and several members of the Yale Corporation said this week that many wealthy Yale alumni have become upset with Brewster and Yale in recent years as a result of student demonstrations and changes in the Yale admissions policies.
G. d'Andelor Belin, Radcliffe's lawyer and president of Yale's alumni University Council, said yesterday that although there is "much evidence" that some of these alumni are "coming back in the fold," many will not be inclined to give heavily to Yale until Brewster retires.
"There's no question that many alumni have got it in their heads that he's a villain or bad for Yale. These people won't do a thing until Kingman is out." Belin said.