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To the Editors of The Crimson:
J.T. Barber today submitted his long-awaited report on Harvard investments in Fixyou, Inc. "We can do more from the inside" he told Mr. Spock, a conclusion based on a two year investigation.
The study was commissioned after a group of Radcliffe mothers staged a sitdown protest at the Manhattan headquarters of the First National City Bank, which handles Harvard investments. Three of the mothers had recently been mugged by drug addicts on Park Avenue between 72nd and 84th streets. When they discovered Fixyou, Inc., was one of the country's largest suppliers of heroin, the demonstration was organized in order to demand that the university sell its more than 2 million dollars worth of stock in the company. Mr. Spock immediately commissioned the present study in order, as he said, that "we may proceed on the basis of a thorough knowledge of all the facts."
J.T. Barber, in his report, points out that the heroin Traffic--although large in relation to the total supply of hard drugs on the East Coast--amounts to less than 10 per cent of Fixyou, Inc.'s total business. "It is a highly-diversified company," he writes, "with interests in movie theaters, helicopter manufacture, watch bands and massage parlor franchises. It is, therefore, unfair to assume that the Harvard capital is going to help finance the drug traffic rather than, let us say, helicopters."
More important to Barber's conclusions is the fact that Fixyou, Inc. securities have a strong market and that "the sale by Harvard would have no effect whatsoever, since our offer would be immediately greeted with exultation bordering on madness in the financial community. The shares would be bought and Fixyou, Inc, would be unharmed." As a result, Barber, explains, "Harvard would loss all its influence over the company. So the only result of this well-intentioned act would be, in fact, to strengthen the traffic in hard drugs. And this is something no Harvard man or Radcliffe mother wants." Richard Goodwin
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