Rivalry with Caltech 

This section seems PoV to me. A rivalry requires that there be more than 1 side competing (for whatever) - if this "rivalry" is "basically unacknowledged" by Caltech, then I would suggest that terming it as a rivalry is quite PoV. Are there any corrobrating sources that aren' from HMC, or is this literally a case of HMC students saying "we're rials", and Caltech saying there is no rivalry? If the latter, changes need to be made.

Furthermore, the end of the section, "Harvey Mudd eventually returned the cannon after the Caltech President threatened to take legal action" seems to contradict the earlier statement about the 24-huor policy. Would someone care to clarify?