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I take these facts concerning the Harvard investments from a paper by Harry Emerson Wildes, a Harvard graduate. It is interesting to note that Mr. Wildes at the time he made this study was doing voluntary publicity work for the alumni group which was raising Harvard funds in Philadelphia; and Mr. Wildes was “dropped” immediately after this study saw the light!

We have seen how Columbia owns stocks and bonds in American railroads, public service corporations, and industrial corporations of all sorts. Exactly the same thing is true of Harvard. Says Mr. Wildes:

Twelve separate cities feed the Harvard purse from their traction lines, and more than half a hundred pay tribute from their lighting, heating, gas and power plants. Harvard has two million dollars in the traction game. The two-cent transfer charge on New York City trolleys goes to pay the interest on three-quarters of a million dollars’ worth of traction bonds in Harvard ownership, and Boston ten-cent fare goes partially to Harvard’s third of a million in Boston traction bonds.