Your readership is the University community and, as a guess, consists of at least 60 percent underage readers. This should cause the Daily to hold itself to a higher standard than the other papers, which are directed mainly at adults. My opinion is that the Daily should not publish ads for gentlemen's clubs and similar businesses because of the number of underage readers and the focus of the paper. For similar reasons, tobacco advertising should not be run. The health risks associated with all forms of tobacco are high enough that the community is better served without such ads, especially for free products.
Alcohol is another matter.
Used responsibly, it is not a problem. There are many bars around campus that depend on University-affiliated patronage and who offer more than just drinks. Your present policy on alcohol advertising is sufficient. Alcohol is a legal substance for those who are 21 years of age or older, and your ads do not suggest otherwise. The problem is that the Daily often runs advertising which clearly promotes and encourages irresponsible and excessive alcohol consumption.