Dog Food Money Helps University

No matter what you buy in an average day, one of your purchases is likely to help the University financially. Harvard's endowment is spread over the industrial world in small investments here and there.

Minor sections of the University's $200,000,000 endowment are invested in corporations that make dog food, hard liquor, bath tubs, aspirins, and cigarettes.

The University's major investments are in U. S. government bonds, public utilities, railroads, insurance companies, A. T. and T., oil companies, and other equally safe and conservative groups.

Cigaroets and Whuskey

However, more than a $1,000,000 of the endowment is invested in a group of liquor companies that make such products as Ruppert's Beer, Four Roses, Lord Calvert, and Old Grand-Dad.

Harvard does have holding in John Morrell and Company, makers of the well-known Red Heart dog food.

Despite all the no smoking signs around the College, over a $1,000,000 of the endowment is in voting stock of tobacco companies like Philip Morris, P. Lorillard (Old Gold), and American Tobacco (Lucky Strike).

Other groups with University money include the Old Dutch Cleanser people, the Wilson meat packers, Montgomery Ward, the Diamond Match Company, and the Greyhound Bus Corporation.

No Confederate Dollars

Although economists are telling us today to invest abroad to help world recovery, the University investors apparently feel that no foreign country, except Canada, is safe enough for their money. The President and Fellows do have ever $2,000,000 in Canadian bonds.

Most of the University's investments, normal or unusual, turn out well. Once in a while something goes wrong. Harvard today has 3276 shares in the National Fireproofing Corporation. They might as well be burned up, for their total value is listed at a nominal one dollar.