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October 26, 1987

The stock market collapsed with the Dow Jones industrial average dropping 22.6 percent. In the wake of the crash President Fergusson wrote to the college community about the health of the college’s endowment, approximately 65 percent of which was in securities. Fergusson said, “Because of the strong leadership of [Vice President for Finance & Treasurer] Tony Stellato and the trustees on the Investment and Finance and Budget Committees, the College has policies in place which buffer us from the immediate effects of dramatic falls in the stock market and which enable us to plan about two years in advance.”

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