Monday, May. 28, 1979
Show and Tell
Wealth in Washington
Their public salaries hardly compare with those in the top ranks of American private enterprise, but the nine mem bers of the U.S. Supreme Court, the President's Cabinet, members of Congress and four announced candidates for the Republican presidential nomination are not quite ready to line up for food stamps.
Operating under the requirements of the 1978 Ethics in Government Act, official Washington and those who hope to become official Washington last week be gan disclosing their personal finances. Thousands more who will be required to report (nearly 11,000 earn more than the $44,756 that makes them eligible) took advantage of extensions granted by the Office of Government Ethics, set up to handle the disclosures. Among that group: President Carter and Vice President Mondale.
The disclosures were further delayed by a last-minute court order issued by U.S. District Judge Robert Collins in New Orleans after six federal judges argued that they feared kidnapings and other threats once their wealth was known. Despite that order, eight members of the Supreme Court filed their reports. Justice Lewis Powell Jr., who reported his net worth at $1.3 million when he was confirmed in 1971, got a 30-day extension be cause of illness.
The richest member of the high court reporting last week was Justice Potter Stewart, who said he has assets of more than $1 million, not including the equity in his Washington home.
Chief Justice Warren Burger an nounced that his assets totaled between $600,000 and $730,000 and that he owes between $100,000 and $200,000 (the law requires the reporting of only a range of wealth, not specific amounts).
Justice William Rehnquist reported savings of between $5,000 and $15,000 and property in Arizona. Justice Thurgood Marshall seems to be living on his $72,000 salary, reporting interest receipts of less than $1,000 from a savings account.
Richest of the Republican presidential candidates reporting last week (Ronald Reagan and Phil Crane did not file) was Lawyer John Connally. His 1978 income was $1.3 million. Nor were any of the other G.O.P. hopefuls in bad financial shape. George Bush said he earned $354,751 last year, much of it from speeches; Howard Baker made $397,000, including his $86,666 Senate salary. Robert Dole earned $115,244.
As disclosures began pouring forth from Congress, it turned out that the Senate has 19 millionaires. Among them: Ted Kennedy, who reported an income of between $294,450 and $584,525 in addition to his Senate salary of $57,500, plus oil royalties of up to $50,000 and real estate holdings of $1.5 million.
The apparent winner of the Senate sweepstakes was, however, Pennsylvania Republican Pickle Heir H. John Heinz III, who reported wealth of between $11.7 million and $20.9 million. That did not include income from two trusts valued at more than $5 million. Runner-up was Missouri Republican John Danforth, who said his assets actually declined last year because the family business, the Ralston Purina Co., suffered a dip in profits. Danforth said his current holdings amount to between $6.9 million and $17.2 million. Other millionaire Senators include:
> California Republican S.I. Hayakawa, who reported assets of between $250,000 and $1.5 million.
> New Jersey Democrat Bill Bradley, the former basketball star, who said he was worth between $1.1 million and $3.1 million.
> Minnesota Republican Rudy Boschwitz, who made his fortune selling plywood, claimed assets of between $5.5 million and $6.2 million.
> Kansas Republican Nancy Kassebaum, daughter of 1936 Presidential Candidate Alf Landon, who reported that her broadcasting properties are worth between $2.1 million and $4.2 million.
A few members of the Senate, however, were not rolling in clover. Alabama Democrat Donald W. Stewart said that he had assets of between $355,000 and $890,000, but that he owed between $505,000 and $1.1 million. Massachusetts Democrat Paul E. Tsongas has assets of about $50,000 more than his liabilities, including a debt to Yale Law School of $808.47.
Senate Majority Leader Robert C. Byrd, who lacks inherited wealth, seems rich in resourcefulness. He earned $1,900 in royalties from a country-music album on which he played the fiddle.
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