Peninsula has offered to purchase The Harvard Salient, Peninsula editors announced in a press release yesterday.

"In the interest of Harvard conservatism, therefore, we offer to purchase The Harvard Salient," wrote Peninsula Senior Council Member G. Brent McGuire '96 in a letter enclosed with the press release.

Peninsula's offer, which did not set a specific price, was prompted by reports of The Salient's financial difficulties in The Crimson last week, McGuire said in a phone interview yesterday.

In a letter of response obtained by The Crimson, Salient President Corwyn D. Hopke '96 rejected Peninsula's offer.

"We appreciate your concern for The Harvard Salient. However, with $2,400 in the bank, over $1,300 in receivables, and $1,000 in payables, The Harvard Salient is far from 'financial difficulties,"' Hopke added.

"While we appreciate the offer, I doubt that even if we were bankrupt we would accept your proposal," Hopke said.

Peninsula's five council members met over the weekend to discuss the purchase of The Salient, said Brian E. Malone, a council member. According to McGuire, they agreed to the decision unanimously.

"We are interested in moving The Salient to its original purpose as a conservative magazine. We think it's drifting away," McGuire said yesterday. "We'd like to restore the conservative identity of The Harvard Salient."

Under the agreement announced in the press release, Peninsula would purchase The Salient as long as The Salient agreed to change its name to The Harvard Salient, Peninsula of Harvard's Bi-Weekly News Magazine, and it agreed to abide by certain ideological stipulations.

The nine editorial standards to which Peninsula asked The Salient to conform included provisions that called for the end of welfare programs, peer counseling programs at Harvard and affirmative action.

Although Malone and McGuire emphasized that their offer was serious, Hopke called it a publicity stunt.

"You can't buy a non-profit organization so it's clearly a publicity stunt," Hopke said in a telephone interview yesterday.

Included in the press release was a letter to Hopke from Fred A. DeCaro III '93, a former Peninsula council member and current manager of Peninsula's reserve funds, the Peninsula Investment Fund at Patriot National Bank in Stamford, Conn.

"Let me assure that according to my valuation of your publication, Peninsula should have no problem absorbing any costs associated with the takeover," DeCaro wrote.

Salient staff have had little success inselling ads since the "by nature conservative"publication Went biweekly, Ross Frisbie '96,former treasurer and executive editor of TheSalient alleged last week.

Former Salient President Whitney D. Pidot '96has given $1,000 to the publication over the pastyear. Pidot has not yet decided whether hiscontribution will be a gift or a loan, he said.