Word: forests
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...Black Rock's upkeep, what he really wanted to support was Harvard forestry generally. In this context, they explain, the plan to shift the $2.4 million to the Petersham account is entirely ethical. Harvard's attorneys also consider the trust, which was established in 1940, and the forest, which was transferred to Harvard in June, 1950, six months after Stillman dies, technically separate gifts, and say the University has no responsibility to keep the money and the forest together...
SUPPOSE YOU GAVE Harvard a forest and about a million dollars to make sure Harvard could take care of it. Then suppose Harvard got sick of having the forest and decided to sell-it-bar wanted to keep your money and spend it somewhere else...
...sleazy as it sounds, that's exactly what the University is proposing to do with $2.5 million which funds the 3800-acre Harvard Black Rock Forest in Cornwall, N.Y. Under a proposed sale agreement released last month. Harvard would sell the site--which was donated to the University by Dr. Ernest G. Stillman '08 in 1950--for $400,000 to a consortium of about 12 non-profit it educational and recreational institutions. In a fit of generosity, the University would offer the consortium a one-time donation of $50,000 once the deal is cut. But Harvard would...
...what exactly Stillman had in mind when he established the roughly $1.2 million trust in 1940. John S. Stillman '40, his son and the executor of his estate, contends that his father and Harvard agreed that the trust would finance Black Rock, with any surplus going to the Harvard Forest in Petersham, Mass. The younger Stillman concedes that there are no written, legal contracts to this effect, but claims his father had extensive correspondence and numerous oral agreements with Harvard President James B. Conant '14 and Treasurer Paul Cabot '21 where that was made clear. However, because Harvard rules require...
Without access to sealed Corporation documents, it is difficult to know whether Harvard agreed to link the endowment to the Black Rock Forest. But certainly the University's shoddy treatment of Black Rock over the last 15 years--including efforts to dump the property entirely--fall to offer reassurance that their explanation is entirely on the level. The forest was the source of another major controversy in 1973 when Consolidated Edison, which had had its eye on the forest since the mid-1960s, unsuccessfully sought to buy and flood 340 acres of Black Rock as part of the later abandoned...