Mailing signed by James L. Davis, TransAfrica D.C. Support Committee; Jean Sindab, Washington Office on Africa (WOA); Christine Root, Committee for a Free South Africa; and Leslie Lewis, Southern Africa Support Project. The letter says the D.C. City Council will soon be considering an important bill which will withdraw investments of public funds from corporations and financial institutions which do business in South Africa. The letter says on June 23, your Councilmember, William Spaulding, proposed in the Government Operations Committee which he chairs that the Retirement Board be exempted from the provisions of this bill; he argued that implementation of divestment could result in a loss of...
Mailing signed by James L. Davis, TransAfrica D.C. Support Committee; Jean Sindab, Washington Office on Africa (WOA); Christine Root, Committee for a Free South Africa; and Leslie Lewis, Southern Africa Support Project. The letter says the D.C. City Council will soon be considering an important bill which will withdraw investments of public funds from corporations and financial institutions which do business in South Africa. The letter says on June 23, your Councilmember, William Spaulding, proposed in the Government Operations Committee which he chairs that the Retirement Board be exempted from the provisions of this bill; he argued that implementation of divestment could result in a loss of value of the pension funds of retired public employees; however, studies by several major universities that have divested their portfolios of securities in companies involved in South Africa concluded that divestment has not led to a reduction in their investment income; furthermore, William Simons, President of the American Federation of Teachers that represents teachers whose pensions are affected, testified in support of bill 5-18 without reservation in March. The mailing says Councilmember Spaulding's recommendation would cut the heart out of the divestment bill; if you share our dismay at Mr. Spaulding's damaging recommendation, we ask that you let Mr. Spaulding know that he is not representing your views on this subject. The mailing says please show your support for the passage of Bill 5-18 by signing, noting your return address, and mailing the enclosed postcard addressed to Councilmember Spaulding as soon as possible; or, if you prefer, write a letter of your own; the full Council may consider the bill as soon as July 5, 1983; your representative needs to hear from you immediately.
