Nevada's lawmakers disclose increases in personal assets

The wealthiest, Sen. Harry Reid, D-Nev., reported the minimum value of his assets increased roughly 14 percent during 1997, and he increased his stock holdings through a property sale.

The assets of Sen. Richard Bryan, D-Nev., increased 15 percent. Rep. John Ensign, R-Nev., reported a 5 percent minimum increase. Rep. Jim Gibbons, R-Nev., reported a large increase, although it appeared it was boosted by a rollover into a family Individual Retirement Account.

The information comes from personal finance reports the lawmakers are required to file with Congress each May. The reports are made public in mid-June, but Nevada lawmakers made theirs available this week upon request.

Apart from their salaries of $136,700, it's impossible to pinpoint the value of lawmaker holdings. Congress allows members to report their assets in broad ranges, with a minimum and maximum potential value for each one. Also, they don't have to report the value of their personal homes.

Reid, one of the wealthier members of Congress, reported assets worth a minimum of almost $2.4 million, mostly in southern Nevada real estate. That's up from minimum assets of $2.1 million reported last year.

His largest investments are an office building he owns in Las Vegas, and 100 acres of land in Bullhead City, Ariz.

Reid collected $26,000 from speeches he delivered to 15 interest groups during the year. He donated the money to charity, as senators are required. Reid declined to disclose which charities.

During the year, Reid increased his stake in the booming stock market. He sold 11 acres of property near U.S. 95 in the northern part of the Las Vegas Valley in September, and invested the proceeds in stock funds.

Earlier this year, he exchanged another 14 acres of the U.S. 95 parcel for an undisclosed amount of property in Searchlight. He isn't required to report details of that transaction until next May.

Bryan reported assets valued at between $350,000 and $1 million, some of it in blue chip stocks like Coca-Cola, General Electric, H.J. Heinz, Intel and Kellogg Co. The minimum value of his portfolio increased 15 percent.

A former state legislator and governor, Bryan continues to collect $11,103 a year in state pensions.

During 1997, Bryan sold a 10 percent interest in a Las Vegas apartment building for between $15,000 and $50,000. He also exchanged a 13.3 percent interest in another Las Vegas apartment building for a 7.8 percent interest in a third apartment building. That transaction was valued between $50,000 and $100,000.

Ensign's most valuable asset is a note he holds on a loan to fellow Las Vegas veterinarian Christopher Yach. In addition, his share of Las Vegas veterinary partnerships was valued at between $51,000 and $115,000.

Overall, Ensign reported assets valued at a minimum $666,000 and a maximum $1.36 million. He also reported accepting a free 10-day trip to China and Hong Kong last May from the Asia Pacific Exchange Foundation, which he stressed was a government-approved cultural exchange program.

Gibbons' holdings range between $413,000 and $1.1 million in value. His most valuable assets are three vacant lots he owns in Washoe County, valued at more than $100,000 all together.

A pension he draws from Delta Airlines was valued at more than $50,000, and he reported drawing $504 from it each month.

Besides holding congressional office, Gibbons reported he serves on the advisory board of the National Conference of Christians and Jews.

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