Transcript of a panel discussion held at the Third Cornell Convocation in New York. City, April 1970 on problems that face universities adnd the outlook for the future. Participants included President Dale R. Corson, moderator; Samuel B. Gould, Chancellor, State University of New York; Isidor I. Rabi, University Professor Columbia University, and Max Black, Susan Linn Sage Professor of Philosophy, Cornell University. Also, program for the event.