[Congressional Record Volume 141, Number 86 (Tuesday, May 23, 1995)]
[Senate]
[Pages S7259-S7261]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


    THE 40TH ANNUAL DETAILED FINANCIAL REPORT OF SENATOR PAUL SIMON

  Mr. SIMON. Mr. President, it has been my practice in each of 
the 40 years I have spent in public life to volunteer a detailed 
accounting of my finances.
  I ask that my financial report for 1994 be printed in the Record.
  The financial report and related announcement follow:

                              ANNOUNCEMENT

       For the 40th consecutive year that he has held public 
     office, U.S. Senator Paul Simon, D-Ill., has released a 
     detailed description of his income, assets and liabilities.
       Simon has been making the voluntary annual statements 
     longer than any other national officeholder. Simon set his 
     policy when he left the newspaper publishing business he had 
     established to enter public service during his eight years in 
     the Illinois House of Representatives, six years in the 
     Illinois Senate, four years as lieutenant governor, 10 years 
     in the U.S. House of Representatives and now 10 years in the 
     U.S. Senate. The listing predates disclosure requirements of 
     state and federal law and continues to exceed those 
     requirements. Senate rules today require only the listing of 
     income within broad brackets. Simon's practice also has set 
     the standard for many officeholders in Illinois.
       Simon also continues to exceed Senate requirements by 
     listing detailed income for his wife, Jeanne.
       The Illinois senator lists 1994 income for himself and 
     Jeanne Simon totaling $206,287. The figure includes Paul 
     Simon's Senate salary, Jeanne Simon's per diem compensation 
     as chair of the National Commission on Library and 
     Information Science, and reimbursements to Paul and Jeanne 
     Simon for travel and other expenses.
       The Simons had assets of $514,579.79 and liabilities of 
     $124,667.44 for a net worth of $389,912.35. Earlier 
     disclosures have shown Simon  to be one of the least wealthy 
     members of the United States Senate.
       The detailed 1994 financial report of Senator Paul Simon 
     follows:
            Income Statement of Paul and Jeanne Simon--1994

General income (Paul Simon):
  Salary, U.S. Senate.......................................$133,870.00
  State of Illinois, General Assembly System..................21,632.64
  Book Royalties..............................................10,315.31
  U.S. Senate, Expense Reimbursement.............................320.80
  Paul Simon Official Office Account, Expense Reimbursement......209.55
  Earnings, IRA................................................1,011.99
  Dana College, Meal Refund.......................................47.50
  Blue Cross/Blue Shield, Insurance Reimbursement................546.84
  Vermont Ties, Refund............................................12.00
  Critic's Choice Video, Refund....................................4.99
  Sale, 1983 Mustang...........................................1,500.00
General income (Jeanne Simon):
  Salary, Emeritus Foundation..................................4,540.55
  Social Security, (Entirely donated to charitable causes).....5,154.00
  U.S. Department of Education, (National Commission on Libraries and 
    Information Science.......................................16,202.88
  Distribution from IRA..........................................800.00
  Earnings, IRA..................................................532.03
  Simon for Senate, Expense Reimbursement.........................74.58
  U.S. Government, Travel Expense Reimbursement................5,027.34
  Nevada Library Association, Travel Expense Reimbursement.......340.00
  American Library Association, Travel Expense Reimbursement.....264.00
  American Library Association, Expense Reimbursement............103.00
  Southwest Library Association, Expense Reimburs367.32 [[Page S7260]] 
  Paula Swift, Luncheon Reimbursement.............................15.00
  Medicare, Reimbursement.........................................91.72
  Delta Kappa Gamma, Speech--Donated to Neval Thomas School......100.00
  Medical Care, Reimbursement.....................................35.00
Interest income:
  U.S. Senate Federal Credit Union...............................149.81
  General American Life..........................................206.85
  Polich National Alliance of U.S.A...............................43.73
  South Shore Bank of Chicago.....................................29.48
Dividends:
  Adams Express..................................................644.14
  General Mills...................................................63.45
  Union One..........................................................53
  Mattel Inc De....................................................5.70
  McDonalds Corp...................................................3.00
  Quaker Oats......................................................6.52
  Scott Paper Co...................................................6.40
  Dreyfus Growth & Income Fund...................................121.31
  Dreyfus Municipal Bond Fund, ($116.49, Reported--$1,220.21 Ex1,336.69
  Franklin Money Fund............................................209.72
  Wal-Mart Stores.................................................15.36
  Pacific Gas & Electric.........................................131.92
  Pax World Fund..................................................89.90
  Texas Instruments...............................................10.32
  General Cinema Corp.............................................23.98
  Harcourt General, Inc............................................4.27
  Scudder Service Corp............................................48.92
  Smith Barney Daily Dividend Funds Inc., Cash Portfolio..........14.77
  Smith Barney Money Funds Inc.....................................1.19
                                                       ________________

    Total income.............................................206,287.00
     Paul and Jeanne Simon--Net worth statement, December 31, 1994

General assets:
  First Bank of Carbondale, Checking Account....................$210.93
  Credit Union, Rantoul...........................................27.22
  U.S. Senate Federal Credit Union, Checking Account...........1,794.01
  U.S. Senate Federal Credit Union, Savings Account..............150.13
  South Shore Bank of Chicago, Savings Account.................1,082.41
  Loan, Senator Paul Simon Official Office Account...............100.00
  U.S. Savings Bonds...........................................1,838.00
  Deposit, Harbour Square Apartments..............................50.00
  General American Life Insurance, Cash Value and Deposit.....10,099.51
  Polish National Alliance Insurance, Cash Value and Deposit...3,751.58
  Congressional Retirement System, Cash Value.................88,104.78
  Thrift Savings Plan.........................................31,635.10
  11.8 Acres & Home, Makanda, IL., (Appraised 1987 at $204,000)--Plus 
    Improvements.............................................235,350.00
  Furniture and Presidential Autograph Collection.............18,000.00
  1991 Chevrolet...............................................9,000.00
  1995 GEO Prism..............................................14,478.87
Stock and Bond holdings with number of shares:
  Cash and Smith Barney Money Fund, Inc........................1,773.26
  Adams Express Co., Maryland 440 Shares.......................6,875.00
  Bethlehem Steel, 5 Shares.......................................90.00
  Dreyfus Municipal Bond Fund, 1,650 Shares...................19,189.50
  Dreyfus Growth & Income, 246.804 Shares......................3,857.55
  Franklin Fund, 1,137.165 Shares..............................1,137.16
  General Mills, Inc., 45 Shares...............................2,570.63
  Harcourt General, Inc., 7 Shares...............................246.75
  Intergroup, Inc., 25 Shares....................................662.50
  Jet-Lite, 120 (Approximate)....................................300.00
  Lands End Inc., 44 Shares......................................605.00
  Liberte Inves., 100 Shares.....................................175.00
  Mattel, Inc., 25 Shares........................................628.13
  McDonalds, 25 Shares...........................................731.25
  Pacific Gas & Electric, 268 Shares...........................6,532.50
  Pax World Fund, 179.813 Shares...............................2,407.70
  Quaker Oats Co., 8 Shares......................................246.00
  Rohr Industries, Inc., 6 Shares.................................62.25
  Scott Paper Co., 8 Shares......................................553.00
  Scudder Growth & Income Fund, 68.246 Shares..................1,110.30
  Texas Instruments, 12 Shares...................................898.50
  United M & M, Inc., 8 Shares.....................................1.75
  Wal-Mart Stores, Inc., 96 Shares.............................2,040.00
                                                       ================

IRA--Paul
                                                          Common Stock:
    Smith Barney Money Funds Inc. Government Portfolio...........416.16
    Smith Barney Utilities Fund................................1,187.54
    Adams Express Co. Maryland, 676...........................10,562.50
    Lands End, 34................................................467.50
    Mattel Inc. De., 88........................................2,211.00
    Pacific Enterprises, 56....................................1,190.00
    Pacific Gas & Electric, 40...................................975.00
    Pepsico Inc-North Carolina, 32.............................1,160.00
    Price Enterprises, 51........................................656.63
    Quaker Oats Co., 284.......................................8,733.00
    Sara Lee Corp., 20...........................................505.00
    Servicemaster Ltd Partnership Pub Partnership Shs., 27.......658.13
    Southwest Water Co. De., 86..................................731.00
    Southwestern Energy Co., 48..................................714.00
    Tootsie Roll Industries, 22................................1,353.00
                                                       Preferred Stock:
    McDonalds Corp Depository Shares, 18 Shares..................438.75
                                                       ________________

      Total...................................................31,959.21
                                                       ================

IRA--Jeanne
  Smith Barney Money Funds, Inc. Government Portfolio............137.75
  Smith Barney Utilities Fund....................................848.43
  Adams Express Co. Maryland, 657.............................10,265.63
  Pacific Gas & Electric, 40.....................................975.00
  Pepsico Inc. North Carolina, 42..............................1,522.50
  Sara Lee Corp., 20.............................................505.00
                                                       ________________

      Total...................................................14,254.31
                                                       ================

      Total assets...........................................514,579.79
                                                       ================

Liabilities:
  Polish National Insurance, Loan..............................1,584.48
  General American Insurance, Loan.............................3,021.15
  LaSalle Talman Home Mortgage Corp..........................117,515.06
  U.S. Senate Federal Credit Union, Signature Loan.............2,546.75
                                                       ________________

      Total liabilities......................................124,667.44
                                                       ================

      Total assets...........................................514,579.79
      Total liabilities......................................124,667.44
                                                       ________________

      Net worth..............................................389,912.35
                                                       ================

 Gifts, Received of More Than $25.00 Value, Outside Immediate Family\1\

       Book from ``B'' Rappaport--$25.00;
       Bow ties from William H. Zarafonetis--Value under $250.00;
       Charles Adams book from Senator Connie Mack--$29.95;
       Book from the Commercial Club of Chicago--Value under 
     250.00;
       Book, Sarajevo, from Warner Books--$29.95;
       Wall Clock from Chicago Lighthouse for the Blind--Value 
     under $250.00;
       Fruit from Larry Goodman--Value under $250.00;
       Hugo Black biography from Neil Bluhm and Wayne Whalen--
     Value under $250.00;
       Food Items from RJR Nabisco--Value under $250.00;
       Glass Art Object from Larry Goodman--Value under $250.00;
       Food Samples from Quaker Oats and the National Food 
     Processors Association--Value under $250.00;
       Flowers from Phil Corboy and Mary Dempsey--Value under 
     $250.00;
       1836 Newspaper, The Sangamo Journal of Springfield from 
     Stan Glass--Value under $250.00;
       Book from the Embassy of Morocco--Value under $100.00;
       Book on Indonesia from the Indonesian Forestry Community--
     Value under $100.00;
       Table cloth from the President of Benin--Value under 
     $100.00;
       Artwork from the Foreign Minister of Vietnam--Value under 
     $100.00;
       Landscape painting from the Government of Mongolia (Waiver 
     granted, see attached letter from U.S. Senate Select 
     Committee on Ethics.)--$175.00.

     \1\The law requires disclosure only of gifts of $250.00 and 
     over. Paul Simon's statement includes all non-family gifts of 
     more than $25.00, whatever the source.
     The law prohibits members of the Senate from accepting gifts 
     of more than $100 from foreign governments or officials.
                                                      U.S. Senate,


                                   Select Committee on Ethics,

                                    Washington, DC, March 6, 1995.
     Hon. Paul Simon,
     U.S. Senate,
     Washington, DC.
       Dear Senator Simon: This is in response to a report which 
     you filed with this Committee concerning your receipt of a 
     landscape painting valued at $150-$175, from the Government 
     of Mongolia.
       In your report you request that the Select Committee, as 
     the designated agency for [[Page S7261]] Members, officers, 
     and employees of the Senate for purposes of the Foreign Gifts 
     and Decorations Act, approve the deposit of the gift with the 
     Secretary of the Senate for official use, as provided by 
     Section 7342(c)(2)(B) of the Act. It is our understanding 
     that the painting will be displayed in your office during the 
     period of official use.
       The Committee approves your request that the gift be 
     deposited with the Secretary of the Senate for official use, 
     and further approves your request that the official use of 
     this gift shall be its display and use in your Senate office. 
     Because this gift remains the property of the United States, 
     you must advise this Committee and the office of the 
     Secretary of the Senate of any proposed change in the use or 
     location of the gift.
       The Foreign Gifts and Decorations Act requires that the 
     painting be returned to the Secretary of the Senate within 
     thirty days after terminating the approved ``official use''. 
     The Act also requires that the ``official use'' will be 
     deemed to have been terminated upon your leaving the Senate, 
     or upon the use of the gift for a purpose other than that 
     specifically approved by this Committee.
           Sincerely,
                                                     Victor Baird,
                         Staff Director and Chief Counsel.
     

                          ____________________