Congressional Financial Statements Gephardt Sells House on Beach, Report Discloses

By Tim Poor Post-Dispatch Washington Bureau David Greene Of The Post-Dispatch Washington Bureau Contributed To This Story, As Did The .. | St Louis Post-Dispatch (MO), June 15, 1997 | Go to article overview

Congressional Financial Statements Gephardt Sells House on Beach, Report Discloses


Tim Poor Post-Dispatch Washington Bureau David Greene Of The Post-Dispatch Washington Bureau Contributed To This Story, As Did The .., St Louis Post-Dispatch (MO)


House Minority Leader Dick Gephardt's former vacation home made its farewell appearance on his personal financial disclosure statements released Friday, along with those of the rest of the members of Congress.

Gephardt, D-St. Louis County, sold his half interest in the North Carolina beachfront home to his partners, realizing a gain of $50,000-$100,000, according to the statement, which requires only the disclosure of ranges of assets. In September, aides said Gephardt had made about $47,000 on the sale.

The home was the subject of an ethics complaint filed last year against Gephardt, who charged that it was retaliation for ethics complaints filed against House Speaker Newt Gingrich, R-Ga. The House ethics committee dismissed the Gephardt complaint, while suggesting that he be more diligent about reporting requirements. Although some Republicans made much of Gephardt's fancy beachfront home, the disclosure report shows he is one of the least wealthy members of Congress from Missouri. The house was Gephardt's main asset last year; aides said he sold it to help pay for his children's college tuition.mt$ The Missourian whose financial lot appeared to improve the most was Rep. Kenny Hulshof, R-Columbia, who was elected in November. Hulshof reported earnings last year of just over $32,000 from his work as a lawyer. As a member of the House, he's now earning $133,600. The disclosure report filed by Sen. Carol Moseley-Braun, D-Ill., included a letter from the Senate Ethics Committee granting her a waiver from the Senate's gift ban for a cooperative apartment in Chicago she co-owned with her ex-fiance, Ksogie Matthews, who was making the monthly mortgage payments. Mike Briggs, a spokesman for Moseley-Braun, said the apartment was sold in April for about $525,000 and that Matthews will get $100,000 from the sale. Here are highlights of 1996 personal financial disclosure forms for senators from Missouri and Illinois and House members from eastern Missouri and southern Illinois. Items are only required to be listed in financial ranges. Sen. Christopher Bond R-Missouri Earned Income: $133,600. Honoraria, all donated to charity: $8,000. Major assets: Retirement pension account, $100,001-$250,000; various money market accounts, annuities and IRAs, each $15,001-$50,000. Major sources of unearned income: Parents' trust fund, $15,001-$50,000; money market account, $2,501-$5,000. Major liabilities: Home equity loan, $100,001-$250,000; guarantee on business loan, $15,001-$50,000. Narrative: Bond made several stock, bond and money market investments in 1996, including a March 26 purchase of a Keogh plan worth $50,001-$100,000. He listed one all-expense-paid trip to Malaysia on Jan. 5-12 courtesy of the Asia Pacific Policy Center on a trip to promote foreign trade.cefp Sen. John Ashcroft R-Missouri Earned Income: $133,600. Honoraria, all donated to charity: $1,500. Major assets: Farm property in Willard, Mo., worth $250,001-$500,000; a Delaware-based bank account worth $100,001-$500,000; undeveloped land in Grand County, Colo., $50,001-$100,000 (sold for $15,001-$50,000 in March); 17 mutual funds and investment funds, none valued at more than $100,000; stocks in 11 companies, including AT&T and U.S. West, worth $1,001-$15,000; investments in commercial realty and cable television companies, $1,001-$15,000 each. Major sources of unearned income: Royalties from legal textbooks, $65,261; Bank account interest, $5,001-$15,000; interest from retirement fund, $5,001-$15,000; rent from farm property, $1,001-$2,500; dividends, interest and other investment gains, none more than $5,000. Major liabilities: None. Narrative: Ashcroft received $1,000 from Coral Ridge Ministries for a March 2 speech in Fort Lauderdale, Fla., and five days later got $500 from the California Governor's Prayer Breakfast for a speech in Sacramento. All of the money was donated to charity. Sen. …

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