Reports show Sen. Reid richest member of Nevada’s congressional delegation

Wednesday, June 4, 1997 | 10:33 a.m.

Reid, 57, is tied for 33rd richest among 535 congressmen. He reported his financial holdings worth $2.1 million to $4.9 million. Last year, Reid's assets ranged from $2.6 million to $5.7 million.

Following Reid in order of apparent wealth are:

-Rep. John Ensign, R-Nev., with assets between $633,008 and $1.35 million.

-Sen. Dick Bryan, D-Nev., with assets between $305,014 to $804,003.

-Rep. Jim Gibbons, R-Nev., with assets between $245,011 and $713,000.

Lawmakers must submit financial disclosure forms with Congress every May, and the reports are made public in June.

The exact worth of each lawmaker can't be determined because they're allowed to estimate the value of their holdings in broad brackets. In addition to income from assets, each member of Congress gets an annual salary of $133,600.

A perennial selection on the list of 50 richest members of Congress, Reid tied for his 33rd position with nine other lawmakers in the January survey by Roll Call, a Capitol Hill newspaper. Roll Call estimated Reid's financial worth to be about $3 million.

Real estate continues to be Reid's primary source of wealth. His largest asset is an office building in Las Vegas worth between $500,000 and $1 million.

Declines in the value of a 15.9-acre tract in Clark County and a 100-acre parcel in Bullhead City, Ariz., led to a dip in Reid's financial worth for a second consecutive year.

Reid's income from rent, interest-bearing accounts and capital gains in 1996 ranged from $133,007 to $312,525. He received between $301,003 and $614,000 for selling property and spent between $150,002 and $350,000 to buy mining claims in his hometown of Searchlight and other land rights.

Reid donated $30,000 in speaking fees from 17 groups including The Tobacco Institute and Del Webb Corp. to charities he declined to disclose.

Liabilities for Reid included loans of between $160,004 and $315,000.

Payments from Ensign's sale of his veterinary practice are his primary asset. Ensign, 39, sold the practice before becoming a casino executive and congressman.

Las Vegas veterinarian Christopher Yach bought the practice for between $500,001 and $1 million. Ensign got between $50,001 and $100,000 from Yach in 1996 payments.

Ensign reported an estimated wealth slightly higher than last year's figures. Income from Ensign's assets ranged from $57,905 to $122,200. He listed no liabilities.

Bryan's financial worth is down this year after being the only member of the Nevada congressional delegation to see an increase last year.

Real estate in Las Vegas and stocks constituted most of Bryan's assets. His holdings yielded income between $76,512 and $183,706 in 1996.

As for liabilities, Bryan, 59, listed for the sixth consecutive year two loans from Las Vegas veterinarian James E. Nave totaling between $150,002 and $350,000.

Bryan also disclosed that his wife, Bonnie, earned more than $1,000 working for Washington Inc., a company that provides catering and touring services for business groups visiting Washington, D.C.

Gibbons, 52, Nevada's newest member of Congress, listed pension benefits from his former employer, Delta Air Lines Inc., as one of his chief assets. The value of the pension benefits was estimated between $50,001 and $100,000 and Gibbons makes monthly withdrawals of $504. In addition, Gibbons received $13,611 from Delta last year for accrued vacation and two weeks salary.

The largest assets for Gibbons included three vacant lots in Washoe County worth between $100,001 and $250,000.

Income from Gibbons' holdings last year ranged from $4,704 and $12,400.