in a way that would impact upon any policy? They would simply say, "Well, they are not really serious about this whole matter.' Mr. HOCKER. Mr. Chairman, I think it has been a contact at a low level. I am not at all clear that the SEC carries on very many matters which would require discussions since we are not concerned with making foreign policy, and we really take and follow directional policy as established by State. Mr. DIGGS. Do you think we will have another Newmont? Have you set up some kind of mechanism which will avoid that fiasco? Mr. HOCKER. I feel sure we have, sir. You are referring to the matter of last year? Mr. DIGGS. That is right. Mr. HOCKER. I might point out that the proxy material has gone through this year, and there was no similar matter that came up. Mr. DIGGS. Any stockholder resolutions for this year? Mr. HOCKER. In Getty Oil, sir, and that, it is my understanding, will appear in the proxy material of the Getty Oil Co. Mr. DIGGS. You have a record, of course, of all the stockholder resolutions that have been submitted on Namibia? Mr. HOCKER. I am sure we do. I have an enumeration with me, sir, and I could provide that. Mr. DIGGS. Thank you. We would like a detailed breakdown of all stockholder resolutions that have been submitted from 1970 to date on Namibia and the result of these. Mr. HOCKER. Yes, sir. [The information requested follows:] SHAREHOLDER PROPOSALS RELATING TO SOUTH AFRICAN COUNTRIES, 1970-74, WHERE MANAGEMENT OPPOSED INCLUSION OF PROPOSAL IN PROXY MATERIAL [Prepared by Division of Corporation Finance, Securities and Exchange Commission, Apr. 21, 1974] Charles A. Pillsbury, Frederick W. Resolved that the management cease all business with any Mar. 17, 1971 Staff indicated that no objection would be raised if the proSmith. posals relating to South Africa. 1971-Honeywell, Inc. governmental body, domestic or foreign, that has a stated policy of racial segregation and cease any and all business, direct or indirect, with the Union of South Africa. 1971-Gulf Oil Corp. South African Task Force of the (2) Recommend that the Board amend the Articles of Incorporation to prohibit any Gulf investment in areas under colonial rule. David Robinson. posal were omitted under (c)(1) because of its mandatory form; even if the form were revised, the proposal would be omissible under (c)(5). (1) Recommend that the Board establish a committee to Feb. 27, 1971 Management objected only to the fact that the "whereas" study Gulf's involvement in the Portuguese colonies and report back to the Board and the corporation's shareholders. clauses, together with the supporting statements, exceeded 100 words. Div. agreed with management but gave proponents a reasonable time to revise or delete the whereas clauses. provided the proponent revised the proposal so that it consisted of a recommendation or request. Council for Christian Social Action of Resolved that the Board shall provide a full written report Feb. 24, 1972 Staff did not agree with management's reasons for omission, the United Church of Christ. to the shareholders on the involvement of the corporation in Angola. products to any agency of the Government of the Republic of South Africa. Resolved that the company shall no longer sell or lease its Feb. 14, 1972 Staff indicated that it did not disagree with management's position that the proposal could be omitted under (c)(1) because of its mandatory form; even if the form were revised, the proposal would be omissible under (c)(5). posal were omitted under (c)(1) because of its mandatory form; even if the form were revised, the proposal would be omissible under (c)(5). 1972-Newmont Mining... Episcopal Churchmen for South. (1) Resolved that Newmont recognize the United Nations as Mar. 16, 1972 (1) Staff stated that no objection would be raised if the proAfrica the lawful authority in Namibia by (a) negotiating with the (2) Resolved that Newmont place all net profits from opera- (2) Same as (1) above. (3) Resolved that the Board shall provide a full written Mar. 16, 1972 (3) Staff did not agree with management's reasons for report to the shareholders on Newmont's involvement in Namibia and South Africa. omission, provided the proposal was revised to consist of a recommendation or request and funds to prepare the report were limited to reasonable amounts, as determined by the Board, and the information to be made available was restricted to that not deemed privileged for business or competitive reasons. 1973--Chrysler Corp. Board of National Missions.. Request that the Board provide a full written report to the Jan. 31, 1973 Staff took a no-action position with respect to the omission shareholders on the involvement of the corporation in the Republic of South Africa. of the proposal on the ground that it was not timely received by the company pursuant to rule 14a-8(a). Mining Episcopal Churchmen for South Request that the Board amend the Certificate of Incorpora- Mar. 20 1973 Staff did not agree with management's reasons for omission. 1973-American Metal Cli ..do. Mining Pension Boards of the United Church of Christ and United Church Board for Homelands Ministries. Resolved that in its operations abroad, the corporation will practice principles of fair employment, without regard to race, sex, or religion. In any country where local laws or customs involve racial discrimination in employment, the corporation will initiate affirmative action programs to achieve meaning ul equality of job opportunity. Mar. 26 1973 Staff did not agree with management's reasons for omission. Upon reconsideration of its initial position on the matter, the staff indicated that it did not agree with management's reasons for omission. 1974-General Electric Co... United Presbyterian Church in the Request that the Board establish a South African Review Jan. 29, 1974 Staff did not agree with management's reason for omission. United States. Domestic and Foreign Missionary Society of the Protestant Episcopal Church. Committee to evaluate the corporation's performance in American Baptist Home Mission So- Request that the Board amend the Certificate of Incorpora- 1974-Newmont Mining Co.. Pension Boards of the United Resolved that the by-laws be amended to provide that: (1) Mar. 27, 1974 Church of Christ. it is the policy of the company to adhere to principles of fair employment, without regard to race, sex, or religion; (2) it is the responsibility of the chief executive officer of the company to assure compliance with the aforementioned policy; and (3) adherence to the aforementioned policy requires the company and its affiliates to undertake affirmative action programs to achieve every phase of employment possible under existing law, and to seek new laws as may be needed for full implementation of the policy. Do. 37-052-74-5 Mr. DIGGS. Now, you said that you used the guidelines set forth by the State Department. Do you feel that you are bound by U.S. foreign policy in this area? Mr. HOCKER. Yes. Mr. DIGGS. Do you really feel that you should adhere or must adhere to U.S. policy on Namibia? Mr. HOCKER. Yes, sir. Mr. DIGGS. I would like to turn momentarily to the Department of State, Mr. Kaiser, and then come back to you. What protests have we made to the South African regime over the past 2 years about their occupation of Namibia? Is there any documentation of that which could be provided? Mr. KAISER. I think in the last 2 years, Mr. Chairman, there are the representations that have been made to the Republic of South African Government that have dealt with particular matters of detentions and floggings, this type of event. These are, of course, a matter of record within the Department. We do have records of this. Mr. DIGGS. Well, here again, I am sort of interested in essence, as in the same context that I was questioning the Securities Commission representative, namely, some more specificity regarding these protests-what is the form that they take. As you know, there are protests and there are protests. I have seen it happen too many times that people protest and, by a gesture or a word, indicate that they are really not serious about their protest. That is why it is difficult for the subcommittee to accept just a statement that protests have been made because, unless we know something about the nature of the protest, something much more definitive, then we really can't measure how emphatic or effective or creative such a protest has been. I am trying to establish for, the benefit of the U.S. image, some credibility. Mr. KAISER. Mr. Chairman, I think your point is quite well taken. We do have on record both reports of meetings as well as the written notes that have been hand exchanged with the South African Government, and these do, I believe, portray the seriousness with which the U.S. Government has viewed some of these incidents to which I referred, both in the statement and in answer to your question, sir. Mr. DIGGS. Mr. Wachholz raised several questions in our past. hearings, and I was particularly interested in knowing what we were doing to try to get answers to those specific questions about David Meroro and other SWAPO leaders and about the medical treatment and provisions for them to answer charges. Just a whole series of questions, the procedure by which they are being held and all the rest, were raised by this witness in our last hearing, and I guess it is related to the question because, if you are really protesting, then the questions would have to be really that specific. Mr. KAISER. Mr. Chairman, we share completely your concern and that of other interested parties in recent events in Namibia, particularly with regard to David Meroro and some of the other youth leaders. In my statement I tried to convey some of the recent actions we have been taking on this very question. We have made formal representations. We have been following these up. We followed it up as recently as just Monday of this week. We have just gotten a reply, I believe it was yesterday, to the effect that the South African Government is still studying the question. We intend to pursue this matter, we do not intend to let it rest. Mr. DIGGS. And, if South Africa continues to give you a "We are still studying" kind of response, just how far are we prepared to go in pressing toward and answer on this question? Mr. KAISER. I am afraid at this point I am unable to say, sir, other than to reiterate that we certainly do not intend to let the matter drop. Mr. DIGGS. Do you think we would support a Security Council effort to have the South African representative report on the situation in Namibia? Mr. KAISER. Do I understand the question to mean would we support a resolution requesting the presence of a South African Government representative for a U.N. body? Mr. DIGGS. Well, a Security Council effort to have, say, a report on the situation in Namibia. I realize that you are not the policymaker with respect to that, but you did say that we do not intend to let the matter rest. I am trying to find out how we are prepared in order to pursue these things? I just threw that out as one option that we could exercise. Mr. KAISER. Well, I would certainly not exclude that option. Mr. DIGGS. Now, of course, there are a lot of countries that have made representations about the Namibian arrests and detentions of one type or another. Are you aware of any mechanism or any agency or any coordinate entity that has tried to produce some kind of coordination out of all these protests? Mr. KAISER. Mr. Chairman, I would like to record that so far as I am aware, no other government has so actively pursued these events in Namibia as the U.S. Government has. I am not personally familiar that many of the governments have acted in this area or on these questions in the recent past. So that the question as to whether or not there is some kind of attempt to coordinate the efforts of individual governments falls away. Mr. DIGGS. It is our understanding that our Ambassador to the U.N. recently wrote to the U.N. reiterating the opinion that responsibility for Namibia was a U.N. responsibility. Are you aware of that representation being made by our representative? What is your understanding that such a representation was made in a letter? I would like a copy of that letter. Mr. KAISER. I will have to look into that, sir. Mr. DIGGS. Would you? Mr. KAISER. Yes. [The following press release was subsequently submitted for inclusion in the record at this point:] At a United Nations ceremony today marking the International Day for the Elimination of Racial Discrimination, Ambassador William E. Schaufele, Jr., United States Representative to the Security Council, presented a pledge for $50,000 to Secretary-General Waldheim for the Fund for Namibia. |