Weinberger, Regan, Herrington, Hodel File Financial Disclosure Reports
Jun. 03, 1986
WASHINGTON (AP) _ Five top aides to President Reagan filed personal financial disclosure reports, and three of the officials revealed that they are millionaires.
Donald Regan, the president's chief of staff, Defense Secretary Caspar Weinberger and Energy Secretary John S. Herrington all filed reports indicating that they have assets of more than $1 million.
Regan listed assets of more than $1 million in a trust company, a rental real estate property, and deferred compensation and a pension from Merrill Lynch & Co. He was chairman of the board and chief executive officer of Merrill Lynch before joining the Reagan administration as secretary of the Treasury.
Weinberger also filed a report showing he is a millionaire, with most of his assets in money-market funds and municipal bonds.
Herrington listed assets of at least $2.76 million, and possibly much more, and liabilities of at least $495,000, and possibly more.
Interior Secretary Donald P. Hodel filed a report listing assets with his wife of between $67,009 and $220,000. In addition, his report said he expected to receive a portion of the trust established for the benefit of his mother, who died last December. The size of the trust was not revealed.
And the only assets listed by presidential spokesman Larry Speakes were less than $5,000 in a bank and between $15,000 to $50,000 in a credit union account.
The financial reports are required to be filed and made public annually by top government officials. Several of the Cabinet officers have filed their reports for 1985, but others, including Secretary of State George Shultz, have been granted extensions beyond the end-of-May deadline.
Weinberger disclosed having assets of at least $1.5 million and possibly much more.
The report does not require officials to report specific amounts of holdings but to list them in broad ranges, such as between $50,001 and $100,000, or over $250,000.
Weinberger reported having more than $250,000 in each of four money-market and tax-exempt funds, and additional holdings in 18 individual city and state bonds.
He listed these gifts and their values: A Kosta crystal vase and bowl valued at $150 from Anders Thunborg, Sweden's minister of defense; an engraved silver cigarette box valued at $100 from Constantine Caramanlis, president of Greece; two Celadon Foo Dogs valued at $100 from the Korean minister of defense Yoon Song Min; a silver camel valued at $150 from President Seyni Kauntche of Niger; and with his wife, an amethyst stone Korean golden crown replica valued at $205 from General Lee Ki Baek, chief of armed forces of Korea.
Regan's Merrill Lynch pension has a value of $688,491 and pays him $79,822 yearly for life, Regan said. The actual amount of deferred compensation paid in 1985 was $107,186.
Regan and his wife, Ann, said they keep $5,000 to $15,000 in their joint checking account. He listed between $100,000 to $250,000 in tax-exempt money funds. A trust held by Mrs. Regan was valued at over $250,000 and produced income last year of between $15,000 to $50,000.
Mrs. Regan also listed between $200,000 to $500,000 in a money market mutual fund and a fund she inherited from her mother.
Herrington disclosed he was partner or director in four real-estate concerns. Most of his assets were in California real estate, including private homes and commercial buildings. His liabilities were promissory notes secured by property.
He reported receiving a trip to the Bohemian Club in Sonoma County, Calif., last summer, valued at $1,082.80, paid for by the Hoover Institution on War, Revolution and Peace at Stanford, Calif.